Highlights The Australian public M&A market has seen a significant drop in activity over the 12 months to 30 June 2013. After a number of years where the energy and resources sectors were the primary drivers of public M&A activity in Australia, in FY 2013, most activity was in the utilities, industrials, financial services and … Continued
Highlights: Recently, there has been a trend towards Australian listed companies disclosing to the market initial confidential approaches by bidders because of concerns that this was necessary to satisfy their continuous disclosure obligations under the Australian Stock Exchange’s listing rules. Changes to the Australian Stock Exchange’s listing rules and guidance taking effect from 1 May … Continued
Highlights: Australia has entered into a number of investment treaties with other nations to reduce sovereign and political risks for foreign inbound and outbound investments. Typical treaty protections include protection against uncompensated expropriation, rights to fair treatment, protection against physical harm and non-discrimination. Modern investment treaties commonly allow foreign investors to sue the host state … Continued
Highlights: The article below presents Gilbert + Tobin’s tips and forecasts for M&A in Australia in 2013. The key to successful M&A is simplicity and speed. Acquiring pre-bid stakes outright up front gives bidder a strong strategic advantage. Cash is preferable to scrip consideration. Avoid deal structures which will attract regulatory scrutiny and lengthy approval … Continued
Highlights: The Australian government is planning to introduce a foreign ownership register for agricultural land to provide the community with better information about foreign agricultural landholdings. The government has also published guidance as to factors that it will consider when assessing foreign investment applications involving Australian agriculture. Main Article: Background Foreign investment in the Australian … Continued
Highlights The Australian public M&A market has seen more restrained activity in the 12 months to 30 June 2012, in line with global trends. The energy and resources sectors continue to dominate public M&A in Australia, accounting for about 50% of transactions. Success rates for transactions increased to 81% in FY2012, while the percentage of … Continued
Executive Summary: Recently, as part of its foreign exchange reforms, the People’s Bank of China signed a bilateral currency swap agreement with the Reserve Bank of Australia. This report discusses the currency swap agreement and the introduction of PRC laws relating to the internationalisation of the RMB. MAIN ARTICLE Background The currency swap agreement Major … Continued
Highlights: Chinese state owned enterprise investment into Australia’s resources sector is helping create unprecedented high-levels of M&A activity. In recent years, Australia’s Foreign Investment Review Board has taken steps to balance the benefits and risks created by this influx by successive revisions or elaborations of the foreign investment policy, amendments to the regulatory framework and … Continued
Highlights: The market for Australian public mergers & acquisitions (M&A) has seen a strong resurgence in the two financial years since the GFC, both in terms of the number of deals being done but also in terms of their value. Success rates are also on the increase, with 70% of announced deals ultimately resulting a … Continued
Executive Summary: So far this year, about 70% of Australian announced listed company deals over $100m have involved foreign bidders. Foreigners making bids in Australia include principally acquirors from the US, UK, Canada and China. With the Asian demand for resources and agribusiness companies, Chinese and Indian bids are expected to increase. The large number … Continued
