India second in global M&A deals ranking

India second in global M&A deals ranking

New Delhi: India has been ranked second in the global M&A deals this year so far in the Asia-Pacific region, with a total outbound deal value of $13.5 billion (Rs52,377 crore), according to a latest report.

According to data complied by global consultancy firm Dealogic, Australia tops the Asia-Pacific cross-border outflow with over 125 deals worth $30 billion, followed by India with a total of 74 foreign acquisitions in the current year so far.

Some of the significant outbound cross-border deals include Suzlon Energy’s acquisition of REpower for $1.7 billion, Vijay Mallya-led United Spirits buying out Whyte & Mackay for $1.11 billion, Tata Power picking up stake in two Indonesian firms and Essar Group’s purchase of Canadian Algoma Steel for about $1.55 billion.

India’s cross-border M&A deal value has more than doubled this year from about $5 billion in the same period in last year.

Japan is the third country with $7.7 billion worth cross-border M&A deals in the first six months of the year, down by 50% in the same period in 2006.

Interestingly, the US has emerged as the most targeted country for acquisitions by firms in Asia-Pacific with 135 deals worth $28 billion in the year so far, followed by the UK with $12.1 billion from 43 deals and Canada at $11.1 billion via 25 deals.

Overall, the Asia Pacific cross-border M&A outflow activity has crossed a record volume of $63.6 billion via 369 deals in 2007 so far, up by over 7% from 57.1 billion via 337 deals in the corresponding year so far.