Australian ‘megadeals’ lead global M&A activity

Global consultancy PwC has revealed Australian merger and acquisition (M&A) activity to lead in the global transportation and logistics (T&L) sector, with three 'megadeals' in 2016's Top 10.

The $9.7 billion lease of the Port of Melbourne to the Lonsdale consortium was the largest deal in the world in Q3 2016, and third largest global deal of the year. It was closely followed by the take over of Asciano for $9 billion in August. The PwC reported the Patricks Terminals and Logistics acquisition separately, making the ninth spot on the top 10 list at $2.9 billion.

On the global stage, there were a total of five so-called 'megadeals' in Q3 2016, which accounts for transactions over US$1 billion. Though the number of deals occurring globally is in gradual decline, these megadeals continue to buoy the volume and value of M&A activity.

According to the report, “five megadeals held about 54 per cent share of the total disclosed deal value in Q3 2016”.

The PwC findings were included in its quarterly analysis, which covers all T&L transactions worth US$50 million or more, across passenger air, passenger ground, shipping, logistics, trucking and rail industries.

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