Australia to Eclipse 14-year M&A Record, Powered by Infrastructure, Resources Dealson October 1, 2021 at 3:20 pm

HONG KONG—Australia is set for its best year ever in Mergers and Acquisitions (M&A) activity despite extended pandemic-induced lockdowns in its most populous states as cash-rich corporates and funds scoop up assets, with bankers seeing no sign of the momentum slowing. Deals involving Australian companies totalled $329.2 billion in the first nine months of 2021, up nearly six times year-on-year and exceeding the same-period amount of the previous three years combined, Refinitiv data showed. The previous annual record was $139 billion in 2007. The volumes were driven by a number of mega deals targeting listed infrastructure and resources firms. Those included BHP Group’s proposed $86 billion unification of its dual-listed company structure and the $14 billion sale of its petroleum business to Woodside Petroleum. Infrastructure assets in Australia were particularly attractive to superannuation and pension funds, which are eager to deploy their low-cost capital for stable, long-term gains, bankers said. …

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