Deals
Australian M&A Heats Up in Busy New Year for Dealmakers
- AirTrunk could cement most active start to M&A year since 2017
- Caltex bidding heats up as EG Group interest emerges
The sun sets on the butane storage spheres at a Caltex Australia refinery in Brisbane, Australia.
Photographer: Eric Taylor/Bloomberg
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It’s been a busy New Year for Australian dealmaking, with mergers and acquisitions activity heating up just after bankers returned from their Christmas holidays.
Australian companies have already announced A$930 million ($640 million) of transactions this year, up 58% from the same period in 2019. That’s not counting the latest purchase by Macquarie Group Ltd.’s infrastructure arm, which signed a deal last week to take over A$3 billion data center operator AirTrunk, Bloomberg News has reported.