This is the definitive crib sheet to see what is happening in global M&A. This edition comprises around 50 pages of comment and data on the key issues in the global M&A market.
Table of Contents
1. Global overview
2. Latin America
3. North America
4. Asia-Pacific
5. Europe
6. Middle East & Africa
A total of 732 M&A transactions were announced in the month of May across the globe, carrying an aggregate disclosed valuation of US$130.1bn. Compared to the same time period 12 months previous, deal valuations were up by 3% on an annual basis. And while activity was driven by large-cap deal making in the United States, it is significant that the top deal of the month was actually witnessed in the Australian Mining sector.
The deal in question saw Newcrest Mining, Australia’s largest gold miner, acquire its closest competitor Lihir Gold in a transaction valued at US$8.29bn. Despite the sheer size of the deal, its most remarkable feature is arguably the fact that it was announced just two days after Australian Prime Minister Kevin Rudd announced plans for a 40% tax on “super profits” generated by Mining firms. A number of industry figures have claimed that the proposed legislation will adversely impact upon Australia's competitiveness and threaten future investment in the Mining sector, although this was seemingly not enough to deter Newcrest in its bid to become a leading global player.
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