Buying back the farm

Co-heads of M&A at Salomon Smith Barney in Sydney, Paul Binsted and Brian Wilson, talk acquisitions in Australia.

Last year was a mega-year for MA transactions but this year there has been a drop in volumes, why

Paul Binsted Volumes globally are off by about 30% to 40% depending on which market you look at. Australia is doing okay though and this market has survived without too much negative impact mostly because local companies as a whole have strong balance sheets and because there's A$20 billion per year flowing into superannuation funds that provides the industry with ample equity. The recent IAG acquisition of CGU for A$1.8 billion demonstrates the level of support for big transactions.

So have the Australian markets witnessed a drop at all

Brian Wilson You can't compare Australia...

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