Domestic M&A up in first half
18 July 2007
Domestic merger and acquisition deal volumes grew from 317 in the first six months of 2006 to 454 in the first half of 2007, according to data released by the industry journal M&A Asia, Xinhua reported (in Chinese). Total value of the disclosed deals in the first six months fell slightly, however, to US$27.6 billion compared to US$29.4 billion at the same time last year. The number of domestic mergers and acquisitions in China jumped as funds raised in buoyant stock markets were put to use to consolidate fragmented industries, said Gabriel Wong, a corporate finance partner of PricewaterhouseCoopers.