Australia now 5th largest inbound target for M&A deals

A new report by Allen & Overy has found that Australia is now the fifth largest inbound target market for M&A deals, with Chinese firms remaining interested in Australian targets despite ongoing global economic uncertainty. The past year saw China undertake eight transactions involving Australian targets, totalling US$6,424 million. The report confirms Australia's position as the China's top target country for M&A in 2011 and the world's fifth inbound target market with a total of 54 deals taking place. Aaron Kenavan, Sydney-based corporate partner at Allen & Overy, said 2012 is expected to continue as the past year did: "2011 saw solid but lumpy Australian cross-border M&A activity. We expect 2012 to have similar themes as 2011. We will continue to attract billions of foreign investment dollars given our relatively attractive economic fundamentals and the strategic positioning of our industries. Subject to resolution of the situation in Europe, we also expect to see a continuation of the uptick in outbound investment by Australian corporates reflecting their increasing cash reserves and high Australian dollar."

Australia now 5th largest inbound target for M&A deals thenewlawyer.com.au Sun, Jan 29, 2012