July 30 - Forbes - Worries of fading buyout activity rattled U.S. equity markets last week, but the M&A action could just be starting in the oilfield services and equipment sector.
Bear Stearns analyst Robin Shoemaker said Monday to expect more deals making among oilfield services and equipment companies. He said a shortage of skilled labor, competition for a technological edge and overcapitalization will push further consolidation. Read More.
Tuesday, July 31, 2007
U.S. Middle Market Companies Confident about Business Growth in Year Ahead Despite Concerns about Slowing Economy
July 30 - Business Wire - Sixty-four percent of U.S. middle market companies, with revenues between $25 million and $1 billion, are predicting growth over the next 12 months, even though nearly 60% believe the U.S. economy will slow down, according to a new study from the Economist Intelligence Unit and CIT Group Inc. (NYSE: CIT), a leading global commercial and consumer finance company. Respondents also indicated that a “shortage of talented staff” and high “labor costs” were the top two challenges to achieving this growth.
The study, "Perspectives from America’s Economic Engine: The CIT U.S. Middle Market Outlook 2007,” surveyed more than 500 senior financial decision-makers at companies with revenues between $25 million and $1 billion. According to the most recent U.S. Census, the middle market accounts for more than $6 trillion in sales and employs almost 32 million Americans, which is more than twice the revenues and four times the number of employees of the blue-chip companies that comprise the Dow Jones Industrial Average. Read More.
The study, "Perspectives from America’s Economic Engine: The CIT U.S. Middle Market Outlook 2007,” surveyed more than 500 senior financial decision-makers at companies with revenues between $25 million and $1 billion. According to the most recent U.S. Census, the middle market accounts for more than $6 trillion in sales and employs almost 32 million Americans, which is more than twice the revenues and four times the number of employees of the blue-chip companies that comprise the Dow Jones Industrial Average. Read More.
Sunday, July 29, 2007
Drilling industry rethinks mergers
July 26 - Houston Chronicle - There are few benefits to be gained from more consolidation in the offshore drilling industry and enough work for even smaller drillers to thrive without it, a top Diamond Offshore Drilling executive said Thursday.
Yet the entire industry has had to give mergers more thought since Monday's announcement that industry titans Transocean and Global- SantaFe Corp. had agreed to join forces, he said.
"Certainly, everybody is re-looking at it in light of the recently announced transaction," Larry Dickerson, Diamond Offshore's president, said in a conference call Thursday morning to discuss the company's quarterly financial results. Read More.
Yet the entire industry has had to give mergers more thought since Monday's announcement that industry titans Transocean and Global- SantaFe Corp. had agreed to join forces, he said.
"Certainly, everybody is re-looking at it in light of the recently announced transaction," Larry Dickerson, Diamond Offshore's president, said in a conference call Thursday morning to discuss the company's quarterly financial results. Read More.
Saturday, July 28, 2007
Market turmoil puts squeeze on private equity deals
July 27 - Reuters - It was a week that may have changed the balance of power on Wall Street, with buyers gaining the upper hand for the first time in years.
It was also the worst week for the U.S. stock market in five years as fear of risk gripped investors.
The dealmakers and their investment banks had been in the driver's seat, forcing investors to swallow transactions at a price they dictated. Read More.
It was also the worst week for the U.S. stock market in five years as fear of risk gripped investors.
The dealmakers and their investment banks had been in the driver's seat, forcing investors to swallow transactions at a price they dictated. Read More.
Wednesday, July 25, 2007
UPDATE: Chain Of Chemical Mergers Likely To Set Off Even More
July 24 - Dow Jones - The rapid pace of acquisitions recently in the typically humdrum chemicals sector has ratcheted up expectations that more are coming, as makers of the building blocks for a slew of household products seek to expand their global reach.
"We expect more consolidation," said Matt Hekman, analyst for Overland Park, Kans.-based investment adviser Waddell & Reed.
"International companies are looking to establish a presence here, and domestic companies are looking to establish, mostly via joint ventures, presences in countries with lower-cost feedstocks, like the Mideast," he said.
Considered as likely targets, say analysts, are bulk chemicals producer Nova Chemicals Corp., as well as companies in the fragmented coatings, or paint-parts, sector and manufacturers of industrial gases. Read More.
"We expect more consolidation," said Matt Hekman, analyst for Overland Park, Kans.-based investment adviser Waddell & Reed.
"International companies are looking to establish a presence here, and domestic companies are looking to establish, mostly via joint ventures, presences in countries with lower-cost feedstocks, like the Mideast," he said.
Considered as likely targets, say analysts, are bulk chemicals producer Nova Chemicals Corp., as well as companies in the fragmented coatings, or paint-parts, sector and manufacturers of industrial gases. Read More.
Tuesday, July 24, 2007
M&A Activity Buoys Stocks
July 23 - Business Week - Another wave of M&A activity, plus earnings news from Merck, pushed stocks higher Monday as markets approach the heart of second quarter's earnings season.
On Monday, the Dow Jones industrial average climbed 92.34 points, or 0.67%, to 13,943.42. The broader S&P 500 index gained 0.77%, or 11.8 points, to 1,545.90. The tech-heavy Nasdaq Composite index edged up 2.98 points, or 0.11%, to 2,690.58.
Stock indexes were bouncing back a bit from Friday, when major averages fell more than 1%, including the Dow, which fell from its record close above 14,000. However, Monday's recovery was weak: for every 17 stocks dropping in price on the New York Stock Exchange, 16 rose in price. On the Nasdaq, the ratio was 16-14 negative. Read More.
On Monday, the Dow Jones industrial average climbed 92.34 points, or 0.67%, to 13,943.42. The broader S&P 500 index gained 0.77%, or 11.8 points, to 1,545.90. The tech-heavy Nasdaq Composite index edged up 2.98 points, or 0.11%, to 2,690.58.
Stock indexes were bouncing back a bit from Friday, when major averages fell more than 1%, including the Dow, which fell from its record close above 14,000. However, Monday's recovery was weak: for every 17 stocks dropping in price on the New York Stock Exchange, 16 rose in price. On the Nasdaq, the ratio was 16-14 negative. Read More.
Monday, July 23, 2007
Mergers, acquisitions on target to set records
July 20 - The Vancouver Sun - The pace of worldwide mergers and acquisitions is on fire and the total values are likely to set records this year, according to a survey released Thursday, with the majority of Canadian and global dealmakers calling the current M&A environment good or excellent.
Worldwide, mergers chalked up a record $2.7 trillion US in deals in the first half of 2007, nearly 70-per-cent higher than the same period last year and outstripping the previous record of $1.93 trillion US set in 2000, said the survey by New York-based Association for Corporate Growth and Thomson Financial. Read More.
Worldwide, mergers chalked up a record $2.7 trillion US in deals in the first half of 2007, nearly 70-per-cent higher than the same period last year and outstripping the previous record of $1.93 trillion US set in 2000, said the survey by New York-based Association for Corporate Growth and Thomson Financial. Read More.
Time to prepare for the coming M&A wave
July 19 - China Daily (Commentary) - The continuous economic boom that has taken place in China over the last 28 years makes it a powerhouse of global prosperity. And now the country has become involved in the newest development of economic globalization.
The wave of mergers and acquisitions (M&As) among international businesses that has swept across the globe will ensure the rise of global corporations in the 21st century.
This explosion in M&As began in 2004 and peaked in 2006, when deals worth $3.5 trillion were inked. The deal-making has continued apace this year - M&A agreements involving $2 trillion were reached in the first four months of this year, up 60 percent from the same period last year.
The M&A deals range from the finance, electricity generation, property and media sectors to consumer goods. They have taken place in the US, Europe and many developing countries. Read More.
The wave of mergers and acquisitions (M&As) among international businesses that has swept across the globe will ensure the rise of global corporations in the 21st century.
This explosion in M&As began in 2004 and peaked in 2006, when deals worth $3.5 trillion were inked. The deal-making has continued apace this year - M&A agreements involving $2 trillion were reached in the first four months of this year, up 60 percent from the same period last year.
The M&A deals range from the finance, electricity generation, property and media sectors to consumer goods. They have taken place in the US, Europe and many developing countries. Read More.
Sunday, July 22, 2007
M&A in Trouble? Not Necessarily
July 21 - WSJ - The merger-and-acquisition boom looks as though it's in trouble. Bond and loan markets are tightening, which will make it tougher for private-equity firms to raise the cash they need to finance leveraged buyouts.
But Robert Keiser, an analyst at Thomson Financial, has tried to cast a different light on the doom and gloom.
According to Mr. Keiser, a vice president in Thomson's Proprietary Research group, there is a 67% correlation between economic activity and M&A activity going back to 1990. Though the economy may be slowing a bit, it's still growing at a healthy clip of roughly 3% annually. Read More.
Friday, July 20, 2007
Atmosphere phenomenal for mergers and acquisitions, survey finds
July 18 - The Business Journal: Phoenix - With a record $2.7 trillion in worldwide mergers during the first half of the year, dealmakers are giddy. According to a new survey by the Association for Corporate Growth and Thomson Financial, approximately 93 percent call the M&A environment "good" or "excellent."
However, private equity professionals are concerned that the easy availability of debt financing (which has helped fuel transactions) will tighten, with 68 percent saying the debt markets will be worse in the next year.
In Arizona, the market continues to run hot, garnering interest from out-of-state and international buyers. Read More.
However, private equity professionals are concerned that the easy availability of debt financing (which has helped fuel transactions) will tighten, with 68 percent saying the debt markets will be worse in the next year.
In Arizona, the market continues to run hot, garnering interest from out-of-state and international buyers. Read More.
Thursday, July 19, 2007
RSM McGladrey CEO/CFO Survey Indicates Positive Growth for Small, Middle-Market Companies
July 18 - Carolina Newswire - The manufacturing and wholesale distribution segments in North Carolina and South Carolina continue to see positive growth across several industry segments, according to the RSM McGladrey 2007 Manufacturing and Wholesale Distribution National Survey.
Conducted this spring, the second annual RSM McGladrey survey provides insights into what CEOs, CFOs, and other senior industry executives are thinking, doing and planning to grow their businesses in an increasingly competitive marketplace. Industry executives were asked questions about cost structure, profitability, technology initiatives, operations, globalization and more.
Of the 947 surveys completed by executives of manufacturing and wholesale distributor companies nationwide, 43 originated from North Carolina and South Carolina. Read More.
Conducted this spring, the second annual RSM McGladrey survey provides insights into what CEOs, CFOs, and other senior industry executives are thinking, doing and planning to grow their businesses in an increasingly competitive marketplace. Industry executives were asked questions about cost structure, profitability, technology initiatives, operations, globalization and more.
Of the 947 surveys completed by executives of manufacturing and wholesale distributor companies nationwide, 43 originated from North Carolina and South Carolina. Read More.
Wednesday, July 18, 2007
Transportation and logistics M&A activity continues to make strides
July 17 - Logistics Management - Coming off of a busy 2006 in which there were approximately $7 billion in mergers and acquisition activity in the transportation and logistics market, activity in this space through the first seven months of this year appears to be maintaining that momentum, according to Ben Gordon, managing director of BG Strategic Advisors.
Speaking at the eyefortransport 3PL Summit/Outsourcing Logistics event in Atlanta last month, Gordon likened the brisk rate of deal making in this sector to a form of “winner take all economics,” in which there is a rapid ascension of capital being deployed by private equity and venture capital firms into transportation and logistics companies. Read More.
Speaking at the eyefortransport 3PL Summit/Outsourcing Logistics event in Atlanta last month, Gordon likened the brisk rate of deal making in this sector to a form of “winner take all economics,” in which there is a rapid ascension of capital being deployed by private equity and venture capital firms into transportation and logistics companies. Read More.
Global M&A activity expected to slow down: But technology M&A deal value may still be booming
July 17 - VNUNET - The current worldwide boom in mergers and acquisitions (M&A) is set to slowdown, according to new research.
Consultancy KPMG says the total number of global deals in 2007 will decrease from 2006, a year when the average size and volume of M&A deals reached an all-time high.
'The momentum which delivered record M&A growth in 2006 is not likely to be sustained,' said Stephen Barrett, international chairman, corporate finance at KPMG. Read More.
Consultancy KPMG says the total number of global deals in 2007 will decrease from 2006, a year when the average size and volume of M&A deals reached an all-time high.
'The momentum which delivered record M&A growth in 2006 is not likely to be sustained,' said Stephen Barrett, international chairman, corporate finance at KPMG. Read More.
Tuesday, July 17, 2007
M&A Activity Still Strong in Private Equity Firms
July 16 - CNBC - Global M&A activity has reached its peak, according to a report recently released by KPMG, though two analysts believe that's only true among small companies -- not when the buyers are large businesses or private equity firms.
Tom Burnett, director of research at Access Wall Street, said M&A activity among small companies may have peaked for now, but he believes high-profile deals could still continue.
He referred to Rio Tinto's recent cash bid for aluminum producer Alcan, as well as Royal Bank of Scotland's bid for Dutch group ABN Amro. Read More.
M&A engine could be sputtering
July 16 - Financial Week - Deal-making in the first half of 2007 was ahead of last year’s record pace, but the value of deals.
The pace of deal-making in the first half of 2007 continued to one-up the record set in 2006, with the total value of both announced and completed M&A deals up 51% and 32%, respectively. But June figures showed a marked slowdown. According to research from Zephyr, the M&A database arm of Bureau van Dijk Electronic Publishing, the total known value of deals announced last month was $442 billion, less than half of May’s $891 billion bonanza. That’s the steepest drop in mergers and acquisitions in 14 months, according to Bloomberg, and some market watchers are saying it may be a sign that the five-year bull market is nearing an end.
The decision by leveraged buyout firm Blackstone Group to sell shares to the public in the largest U.S. IPO in five years could be another sign of a top. Read More.
The pace of deal-making in the first half of 2007 continued to one-up the record set in 2006, with the total value of both announced and completed M&A deals up 51% and 32%, respectively. But June figures showed a marked slowdown. According to research from Zephyr, the M&A database arm of Bureau van Dijk Electronic Publishing, the total known value of deals announced last month was $442 billion, less than half of May’s $891 billion bonanza. That’s the steepest drop in mergers and acquisitions in 14 months, according to Bloomberg, and some market watchers are saying it may be a sign that the five-year bull market is nearing an end.
The decision by leveraged buyout firm Blackstone Group to sell shares to the public in the largest U.S. IPO in five years could be another sign of a top. Read More.
Monday, July 16, 2007
Canada to review mergers policy
July 12 - MSNBC - Canada's minority Conservative government has set up an independent panel, led by a prominent businessman, to examine competition and investment policies in the wake of a flurry of mergers and acquisitions that could reshape key sectors of the economy.
The panel's findings are widely expected to lead to a significant relaxation of foreign ownership and competition rules in the telecommunications industry. They could also lay the groundwork for mergers among domestic banks, which have been blocked for the past decade by political sensitivities.
The group is also likely to address concerns about the "hollowing-out" of corporate Canada as a result of a series of foreign takeovers of some of the most prominent companies. Read More.
The panel's findings are widely expected to lead to a significant relaxation of foreign ownership and competition rules in the telecommunications industry. They could also lay the groundwork for mergers among domestic banks, which have been blocked for the past decade by political sensitivities.
The group is also likely to address concerns about the "hollowing-out" of corporate Canada as a result of a series of foreign takeovers of some of the most prominent companies. Read More.
Friday, July 13, 2007
Chiefs of Arcelor Mittal, U.S. Steel predict more M&A
July 12 - MarketWatch - The chiefs of two of the world's largest steel makers said Thursday they see more consolidation ahead, most likely across continents and within China's fragmented and fast-growing industry.
Lakshmi Mittal, chief executive of Arcelor Mittal, and John Surma, chief executive of United States Steel Corp., told the Associated Press in a joint interview that the steel industry can expect to see more intercontinental combinations like those of the past year as opposed to the regional marriages of earlier years.
The executives were in New York for a board meeting of the International Iron and Steel Institute, for which Surma serves as chairman.
"I think consolidation now will be between bigger companies and perhaps across longer distances and will be bigger transactions," Surma said. "How quickly that happens depends on how adventuresome companies are and how much they want to risk." Read More.
Lakshmi Mittal, chief executive of Arcelor Mittal, and John Surma, chief executive of United States Steel Corp., told the Associated Press in a joint interview that the steel industry can expect to see more intercontinental combinations like those of the past year as opposed to the regional marriages of earlier years.
The executives were in New York for a board meeting of the International Iron and Steel Institute, for which Surma serves as chairman.
"I think consolidation now will be between bigger companies and perhaps across longer distances and will be bigger transactions," Surma said. "How quickly that happens depends on how adventuresome companies are and how much they want to risk." Read More.
Wednesday, July 11, 2007
India second in global M&A deals ranking
July 11 - The Hindu - India has been ranked second in the global M&A deals this year so far in the Asia-Pacific region, with a total outbound deal value of $ 13.5 billion, a latest report says.
According to data complied by global consultancy firm 'Dealogic', Australia tops the Asia-Pacific cross-border outflow with over 125 deals worth $ 30 billion, followed by India with a total of 74 foreign acquisitions in the current year so far.
Some of the significant outbound cross-border deals include Suzlon Energy's acquisition of REpower for $ 1.7 billion, Vijay Mallya-led United Spirits buying out Whyte & Mackay for $ 1.11 billion, Tata Power picking up stake in two Indonesian firms and Essar Group's purchase of Canadian Algoma Steel for about $ 1.55 billion. Read More.
According to data complied by global consultancy firm 'Dealogic', Australia tops the Asia-Pacific cross-border outflow with over 125 deals worth $ 30 billion, followed by India with a total of 74 foreign acquisitions in the current year so far.
Some of the significant outbound cross-border deals include Suzlon Energy's acquisition of REpower for $ 1.7 billion, Vijay Mallya-led United Spirits buying out Whyte & Mackay for $ 1.11 billion, Tata Power picking up stake in two Indonesian firms and Essar Group's purchase of Canadian Algoma Steel for about $ 1.55 billion. Read More.
Monday, July 09, 2007
Small companies, big shoppers
July 9 - The Economic Times - Call it a buying spree by India's minnow brigade in the global bazaar. Just when you thought that the strengthening of the rupee is taking its toll on exports, a bunch of small firms seized the opportunity to gobble up a few foreign firms. As many as 46 overseas acquisitions by small and medium-sized companies in India have been recorded in the past one year alone.
Of the 46 acquisition deals that have been concluded in the past year, 41 companies are by small, says a research analyst at the Federation of Indian Chambers of Commerce and Industry.
Though a bulk of these acquisitions are in the IT space, sectors like pharmaceuticals, gems and jewellery, agro, automotive, electrical and electronics and food and beverages, among others, too have added a chapter to the M&A story. The IT industry had the maximum number of acquisitions to its credit. While big Indian companies have been shying away from large ac-quisitions, mid-size IT players have been setting more aggressive acquisition targets. Mid-tier companies need to attain scale to get invited to the same bids as the big firms. Some of them are focused on niche areas and need to build competencies in those areas. Read More.
Of the 46 acquisition deals that have been concluded in the past year, 41 companies are by small, says a research analyst at the Federation of Indian Chambers of Commerce and Industry.
Though a bulk of these acquisitions are in the IT space, sectors like pharmaceuticals, gems and jewellery, agro, automotive, electrical and electronics and food and beverages, among others, too have added a chapter to the M&A story. The IT industry had the maximum number of acquisitions to its credit. While big Indian companies have been shying away from large ac-quisitions, mid-size IT players have been setting more aggressive acquisition targets. Mid-tier companies need to attain scale to get invited to the same bids as the big firms. Some of them are focused on niche areas and need to build competencies in those areas. Read More.
PE firms beat India Inc on the M&A turf
The private equity juggernaut, which has been scorching the global deal street, has come of age in India. For the first time, the value of PE deals in a single month has overtaken that of strategic merger & acquisitions. June reported $1.8 billion worth of PE deals in the country — the highest in a single month — overtaking strategic M&A deals at $1.72 billion.
As per the latest deal tracker by advisory firm Grant Thornton, there were 36 PE deals during June totalling $1.81 billion as against 24 deals worth $1.56 billion during May.
Says Grant Thornton partner-corporate advisory services CG Srividya, “One of the reasons for this is the increasing number of buyouts and PE interest in the real estate and infrastructure sectors. Our estimates show that close to $1 billion worth of PE money went to the real estate and infrastructure sectors in June alone.” Read More.
Friday, July 06, 2007
M&A Market Strong But Debt Concerns May Curtail Activity
July 5 - Investor's Business Daily - It's become something of a spectator sport, trying to predict when the market for mergers and acquisitions will finally back off of its breakneck pace.
It didn't happen last quarter. In fact, the $1.65 trillion in announced global deals set a new record for a three-month period, according to data from Thomson Financial.
The third quarter is off to a roaring start as well. Blackstone bx late Tuesday announced a $26 billion takeover of Hilton Hotels. And legendary private equity outfit Kohlberg Kravis Roberts filed plans to go public on the heels of Blackstone's huge IPO in late June.
Those events notwithstanding, you still hear plenty of chatter that M&A activity is headed for a slowdown. Much of the talk centers on lenders, and whether they'll finally tighten the reins on the cheap loans and attractive financing packages they've been trotting out. Read More.
It didn't happen last quarter. In fact, the $1.65 trillion in announced global deals set a new record for a three-month period, according to data from Thomson Financial.
The third quarter is off to a roaring start as well. Blackstone bx late Tuesday announced a $26 billion takeover of Hilton Hotels. And legendary private equity outfit Kohlberg Kravis Roberts filed plans to go public on the heels of Blackstone's huge IPO in late June.
Those events notwithstanding, you still hear plenty of chatter that M&A activity is headed for a slowdown. Much of the talk centers on lenders, and whether they'll finally tighten the reins on the cheap loans and attractive financing packages they've been trotting out. Read More.
Tuesday, July 03, 2007
India witnessing buoyancy in M&A activity on robust economy - report
July 2 - Forbes - India has been witnessing buoyancy in mergers and acquisitions activity, thanks to a robust domestic economy, relative improvement in infrastructure, unprecedented liquidity and continuation of economic reform process, according to ICICI Bank's Private Banking Research Division.
In its Global Investment Outlook report, the bank says the total equity deals struck by Indian companies have crossed 50 bln usd in 2007.
Of these, strategic mergers and acquisitions were of 46.4 bln usd, while private equity deals were worth 5.1 bln usd. Read More.
In its Global Investment Outlook report, the bank says the total equity deals struck by Indian companies have crossed 50 bln usd in 2007.
Of these, strategic mergers and acquisitions were of 46.4 bln usd, while private equity deals were worth 5.1 bln usd. Read More.
Monday, July 02, 2007
China and India Pace Asia Stock, M&A Activity
WSJ - Chinese and Indian companies raised the most money from the stock market during the first half, according to a ranking of Asian countries excluding Japan, Australia and New Zealand, from data provider Dealogic.
China and India also led in the mergers-and-acquisitions league, Dealogic data showed Friday. Dealogic's preliminary data will be released in a full report next week.
Fueled by the booming economy, the number of Chinese initial public offerings nearly doubled in the January-June period from a year ago and helped push the number of stock deals in Asia, excluding Japan, up 55% from ... Read More (subscription required)
China and India also led in the mergers-and-acquisitions league, Dealogic data showed Friday. Dealogic's preliminary data will be released in a full report next week.
Fueled by the booming economy, the number of Chinese initial public offerings nearly doubled in the January-June period from a year ago and helped push the number of stock deals in Asia, excluding Japan, up 55% from ... Read More (subscription required)
M&A on pace for record despite signs of strain
June 29 - Reuters - Global M&A activity is on target for a record year after a first-half surge, bankers say, despite growing signs the benign lending environment that has underpinned the current boom may be coming to an end.
An increase in cross-border corporate mergers helped Europe push past the United States in volume for the first time in four years, and lifted the global tally of announced M&A in the first half by 51 percent to $2.8 trillion, according to preliminary data released on Friday by research firm Dealogic.
Global M&A was $1.9 trillion in the first half of 2006.
"It's undoubtedly going to be the biggest M&A market ever (this year)," said Dag Skattum, JPMorgan Chase & Co.'s global co-head of M&A. Read More.
An increase in cross-border corporate mergers helped Europe push past the United States in volume for the first time in four years, and lifted the global tally of announced M&A in the first half by 51 percent to $2.8 trillion, according to preliminary data released on Friday by research firm Dealogic.
Global M&A was $1.9 trillion in the first half of 2006.
"It's undoubtedly going to be the biggest M&A market ever (this year)," said Dag Skattum, JPMorgan Chase & Co.'s global co-head of M&A. Read More.
Pace of Mergers and Acquisitions Expected to Continue
July 1 - SeekingAlpha - Rick Konrad submits: The merits (and demerits) of private equity have been debated by market participants, and unfortunately ne'er-do-well politicians in much of the first half of this year with a recent crescendo in the debate. I think this article highlights some of the dimensions around the issue and provides a number of useful data points. Read More.
Asia M&A activity soars 50 pct in record first half
June 29 - Reuters - Asia Pacific mergers and acquisitions excluding Japan surged 50 percent in the first half to a record $253 billion, with Australian buyout deals and an overseas push by Indian firms expected to keep activity at high levels.
Australia accounted for $76 billion worth of deals in the half, followed by China ($55 billion) and India ($39 billion), according to preliminary data from Dealogic.
"This year has been characterised by a good spread of volumes. India's been very strong and success has begotten success," said Matthew Hanning, head of Asia Pacific M&A at UBS Investment Bank. Read More.
Australia accounted for $76 billion worth of deals in the half, followed by China ($55 billion) and India ($39 billion), according to preliminary data from Dealogic.
"This year has been characterised by a good spread of volumes. India's been very strong and success has begotten success," said Matthew Hanning, head of Asia Pacific M&A at UBS Investment Bank. Read More.
UK M&A gets off to a sprint start
June 29 - MSNBC - London-based investment bankers who spent the past week hyperventilating into a brown paper bag about the turmoil in the credit markets should come up for air.
This has been the fastest start to the year ever for UK target acquisitions, so, even if the markets worsen, they will have already earned their bonuses.
During the first six months of the year, there were 1,405 deals worth a total $216bn (£107bn) – a 72 per cent increase on the same period last year - according to data from Thomson Financial. The huge volume of activity has in part been driven by foreign acquirers shopping for investments in the UK. Read More.
This has been the fastest start to the year ever for UK target acquisitions, so, even if the markets worsen, they will have already earned their bonuses.
During the first six months of the year, there were 1,405 deals worth a total $216bn (£107bn) – a 72 per cent increase on the same period last year - according to data from Thomson Financial. The huge volume of activity has in part been driven by foreign acquirers shopping for investments in the UK. Read More.
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