The Canadian dollar is on sale at a 30% discount from the US dollar over the last few months and the Euro trades at a 70% premium to the C$ which means that Canadian sellers are in a good position to get value.
A benefit to foreign buyers may be access to credit. The Canadian banking system has always been heavily regulated which means that they have weathered the storm better than most and are tight, but still lending - now rated number one in the G8.
M&A is active - I have two closes and another Letter of Intent in December alone - with more on the horizon.