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IPE Real Assets (September/October Issue)

2018/ 10/ 01 by jd in Global News

“Real estate is often said to be a long-term, buy-and-hold asset class for institutional investors. But the success of investments invariably comes down to getting the timing right.” Recently, “a handful of fund managers” have “sold to bigger parties, either fully or partially.” This raises the question whether the latest round of M&A is a signal. Though it is a “possible canary,” there are other reasons for M&A. The prevailing outlook amongst investors and managers is for “a supportive market environment in the short to medium term” and “an extended cycle, albeit a flat one in terms of capital value growth.”

 

Reuters (June 7)

2018/ 06/ 08 by jd in Global News

“Despite a torrid start to 2018 and with Brexit uncertainties looming large, British blue-chip stocks have jumped to record highs thanks to a weak pound, a torrent of mergers and acquisitions, and bouts of political anxiety in the euro zone.” This is less the result of long-term optimism and more a re-calibration that UK  positions had been marked down excessively.

 

Institutional Investor (September 11)

2017/ 09/ 12 by jd in Global News

“China’s mobile economy may well power the nation’s growth for decades to come, becoming an engine that will more than make up for the slowdown of the country’s traditional growth engines, such as manufacturing and exports.” That is the main thesis of a recently published book by Winston Wenyan Ma, a managing director at China Investment Corp., the country’s sovereign wealth fund with more than $800 billion in assets.

 

Institutional Investor (August 3)

2017/ 08/ 05 by jd in Global News

“The major shift to passive fund management has increased the need for M&A” so that asset managers can “gain scale and survive increasing pressure” on client fees. The same shift, however, is also deterring potential buyers. “Mergers and acquisitions in the asset and wealth management industry declined in the second quarter,” with the number of deals falling by nearly a third from the first quarter.

 

Financial Times (December 21)

2015/ 12/ 21 by jd in Global News

“A surge of deals in the pharmaceuticals, energy and consumer sectors has pushed merger and acquisition activity to an all-time high, surpassing 2007’s peak — but dealmakers have admitted that bond market turmoil and geopolitical instability are their biggest worries for 2016.”

 

Institutional Investor (February Issue)

2015/ 02/ 25 by jd in Global News

“Over the past five years, as Barclays and Royal Bank of Scotland in the U.K., UBS and Credit Suisse in Switzerland and even Deutsche Bank have pared back their investment banking activities, U.S. banks have powered ahead in the European arena in just about every sector, including the all-important FICC and M&A advisory categories.”

 

Institutional Investor (August 28)

2014/ 08/ 29 by jd in Global News

“Chinese companies are the new force in global M&A.” With $51 billion of outbound M&A, China has surpassed both Japan ($37 billion) and Germany ($49 billion) during the first eight months of 2014. Though it still trails the U.S. ($174 billion), “mainland firms are stepping up the pace of foreign acquisitions, increasingly targeting technology and consumer plays in developed countries.”

 

Institutional Investor (May 8)

2014/ 05/ 09 by jd in Global News

M&A appears poised to hit new highs. “Announced global deals this year have already hit $1 trillion as of the end of March, one of the highest quarterly levels since 1998 and almost double the level announced for the same period a year ago. The trend is reaching across industries and regional markets.” Several factors are driving the boom? M&A “reduces the uncertainty as to how surplus capital will get put to work and, with the cost of capital so low, raises the odds that acquisitions can boost future earnings growth.”

 

The Economist (May 3)

2014/ 05/ 05 by jd in Global News

“After years in the doldrums, big mergers and acquisitions (M&A) are making a comeback. Optimists hope this is a sign of bosses daring to be bold because of improving economic prospects. Sceptics wonder if the managers are in fact doing deals to conceal a worrying lack of growth opportunities—or just cutting costs by merging with companies in kinder tax jurisdictions.”

 

Euromoney (August Issue)

2013/ 08/ 13 by jd in Global News

“The value of mergers and acquisitions by Japanese companies of those in southeast Asia has reached $8.2 billion over this year to date, according to Dealogic, further demonstrating Japan’s relative strength on a regional and global basis. That makes Japan the highest single-country bidder for any southeast Asian companies.”

 

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