Mega rival bids for F&N push Singapore M&A to its best-ever annual level of US$47.1b

Why are we not surprised?

According to Thomson Reuters, the value of announced M&A deals involving Singapore surged this year posting a record volume of US$79.4 billion, up 82.5% from 2011, driven by competing bids for Fraser & Neave which are currently still pending and will spill over in 2013.

Here's more from Thomson Reuters:

There have been a total of three announced deals exceeding $5 billion in value so far in 2012, compared to none in the previous year. These include the rival bids for Fraser & Neave from Overseas Union Enterprise Ltd-led group valued at US$12.5 billion and from TCC Assets (controlled by Thai billionaire Charoen Sirivadhanabhakdi) worth US$9.2 billion. So far, at least 16 transactions targeting Fraser & Neave and its subsidiaries were announced this year valued at US$36.2 billion, pushing target Singapore M&A to reach its best-ever annual level of US$47.1 billion.

Total cross-border activity reached US$46.7 billion to date, a 90.5% growth over last year’s volume, and the highest annual period since 2007 (US$59.3 billion). Inbound M&A increased three-fold to a record level of US$27.2 billion and captured 58.2% of Singapore’s cross-border activity, while outbound deals accounted for 41.8% (US$19.5 billion). Deal value for domestic M&A reached US$20.0 billion, up 131% compared to 2011.

Food & Beverage Sector Takes the Limelight
Bolstered by the announced mega rival bids for Fraser & Neave and the completed stake acquisition of Asia Pacific Breweries by Heineken, Consumer Staples M&A soared to US$37.8 billion, a twenty-fold increase compared to 2011. Food & Beverage sub-sector M&A accounted for 46.3% Singapore-involvement acquisitions this year.

Meanwhile, the Financials sector represented 13.9% of the market share with US$11.0 billion, a 133% growth from last year, driven by DBS Group’s announced acquisition of Indonesia’s Bank Danamon for US$7.3 billion.



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