Canadian merger and acquisition (M&A) activity is getting serious right now. In addition to other high-profile mega-cap mergers, smaller Canadian companies are merging at a relatively rapid pace. These mergers may fly under the radar in this environment, but some are equally intriguing. One such deal I have my eye on right now is the Seven Generations Energy(TSX:VII) merger. Indeed, I think this is an interesting play to consider right now. Shareholders approve the merger deal Arc Resources and Seven Generations in February announced an all-stock, debt-inclusive, $8.1 billion merger. So, in a way, this deal isn’t that small at all. Indeed, this deal stands to create what will become Canada’s sixth-largest oil and gas company.