After years of cost-cutting, Australian companies are finally putting their strong balance sheets to work, leading to a flurry of mergers and acquisitions.
The pickup in deals is being driven by a confluence of cheap access to finance, strong interest from overseas buyers, new funds raised by private equity firms and a need for company executives to find new sources of growth.
A Deloitte survey of 50 Australian chief financial officers conducted in late June found 60% planned to pursue potential mergers and acquisitions over the next 12 months, compared to 54% in the prior survey.
“With market conditions strong, and the capital markets...
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