The predators in the New Zealand takeovers scene are overwhelmingly Australian, according to the latest survey of merger and acquisition transactions by Thomson Financial.
Australian-based acquirers spent close to US$4 billion ($6.25 billion) on New Zealand companies in deals announced in the first three quarters of 2006.
They were the
most acquisitive group with a 73 per cent market share. Domestic companies were the second most active with a 23 per cent share.
Overall, the value of merger and acquisition deals was down 29.6 per cent from the same period last year.
In a summary of announced deals, Goldman Sachs topped the rankings of advisers, working on deals worth US$2.1 billion. Credit Suisse and Caliburn Partnership rounded out the top three, advising on US$1.7 billion and US$1.2 billion worth of deal respectively in the period.
If only completed deals were counted, Macquarie was top, Cameron Partners was second and Deutsche Bank was third.
Stephen Tindall's plan to buy out the rest of The Warehouse with Australian partner Pacific Equity Partners was the top announced transaction, though that deal's future is now in doubt.
Graeme Hart's plan to take Burn Philp private was the second biggest and Burns Philp's sale of its Uncle Toby's business was the third.
The total value of announced deals in the first three quarters was US$7.4 billion. The number of deals announced rose 18 per cent to 297.
- NZPA
