By ELLEN READ
Corporate activity picked up strongly in the third quarter, with deal-makers swinging back into action as the impact of the September 11 attacks receded.
Sixty-two mergers and acquisitions worth a total $4.4 billion were announced during the three months to September, says research group Thomson Financial.
"I suspect we have
seen the worst of the M and A [mergers and acquisitions] downturn, touch wood," said Robert Bogers, ABN Amro's head of finance. "The sense I'm getting from our people overseas is that things are picking up again."
Despite the bounceback, the total value of mergers and acquisitions for the year so far is 14.3 per cent lower than for the same period last year.
There were 157 deals valued at $6.48 billion announced in the first nine months of this year, down from 201 transactions valued at $7.56 billion for the same period last year.
Globally, however, things are faring less well with a downturn of 34.6 per cent.
Heading the league tables for the year so far are:
* In the deals announced section, ABN Amro advised on the highest value of deals ($4.07 billion or a market share of 62.8 per cent), and KPMG Finance advised on the most transactions (15).
* In the completed transaction section, Cameron & Co advised on the highest value of deals so far this year ($912 million), and KPMG Corporate Finance advised on the most transactions (14).
The largest deal announced this year has been the pending $2.754 billion acquisition of UnitedNetworks by Vector.
Chinese companies remain the biggest investors with three transactions worth a total $496 million. The most active foreign investor is Australia, with 26 transactions worth $347.2 million. Foreign investment in NZ at 13.8 per cent was the lowest since 1990.
