Canadian dealmaking is back to pre-crisis levels, led by the powerful resource sector and a reawakening in credit markets, according to a PricewaterhouseCoopers report released on Friday. Merger and acquisition activity surged 81 percent in the first quarter from a year earlier, with more than $50 billion in deals announced in the past 90 days, PwC said. That brings activity back in line with the high point reached in the first quarter of 2007 in dollar terms, according to the consultancy's report . Average deal value was up 31 percent at $136 million in the quarter, although deal volume slipped 8 percent in the same time period.
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