Deals
Slump in Australian M&A Has Bankers Eyeing Rescue Deals
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Dealmakers are helping Australian companies with everything from urgent equity raisings to restructuring, after the coronavirus pandemic brought mergers and acquisitions to a standstill.
The country’s deal activity delivered the worst start of a year since 2013. Announced deals in Australia dropped to $13.8 billion in the first quarter this year, a 32% plunge from the first three months of 2019, according to data compiled by Bloomberg. The biggest deal of the year so far was Macquarie Group Ltd.’s proposed A$3 billion ($1.8 billion) acquisition of data-center firm AirTrunk, which was announced in January.