S'pore Q3 M&A deals dive to S$7.7b
But US$61.7b total for nine months exceeds last year's US$41.8b total
DEAL-making activity in Singapore moderated in the third quarter from the relentless pace seen in the first two quarters of the year.
The Republic saw mergers and acquisitions (M&A) deals of US$7.7 billion in the third quarter, down from US$29.4 billion in the first quarter and US$24.7 billion in the second, latest data from Thomson Reuters revealed.
Nonetheless, despite the dip in momentum, industry players foresee robust M&A activity again in the fourth quarter and next year.
"M&A transactions in Asia generally have longer gestation periods than in the Western markets, and certainly do not happen overnight," said Eugene Gong, head of M&A for South-east Asia at Deutsche Bank. "We are seeing an increasing trend of companies in Singapore and South-east Asia seeking to grow outside of their home country and even the region through M&A, and we expect that this trend will …
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Cordlife files police report against former employees for ‘potential wrongdoings’
Michelin challenges EU’s hunt for evidence of tyre cartel
First Resources denies allegations of links to firms clearing forests in Indonesia
US: Wall St opens higher on megacaps boost; earnings, Fed comments
Abbott beats quarterly profit estimates on strong medical device sales
Tesla asks investors to approve Musk’s US$56 billion pay again