2013
Global survey finds cross-border M&A activity increases 18%
Grant Thornton’s International Business Report (IBR), a quarterly global business survey in 44 countries, finds an increased appetite for cross border acquisitions as demand is at its highest level since 2008. Despite the political and economic events of the past twelve months, planned cross border M&A is driving acquisitive growth increasing by 56% since 2008 and 18% in 2012.
Key findings:
- 44% of European businesses plan to drive growth through a cross border acquisition in the coming year. Spain (61%) is the most fervent about future cross border M&A activity whilst, in contrast, only 46% of German businesses are looking to cross border acquisitions.
- Response from Russia (increase of 177%) and China (increase of 81%), emphasise the development and growing financial strength of mid-market companies within these countries that now have the ability and interest in sourcing growth internationally.
- Increase in appetites since 2008 show Singapore (86%), the UAE (66%), India (59%) and Japan (50% increase) all have strong plans to grow through cross border acquisition.
- Australian respondents (25%; increase year) show the most support for domestic targets as the focus of their acquisition strategy.
Mike Hughes, Grant Thornton’s Global service line leader for M&A comments, “Whilst the overall outlook for M&A remains cautious due to the recent backdrop of the Eurozone crisis, the US fiscal cliff and political instability in the Middle East, what many of our M&A teams have been experiencing is the substantial interest and support for corporates of all sizes to look beyond their own borders for acquisition opportunities”.
Although the current environment shows no significant sign of positive change, with many political and economic changes yet to come in 2013, M&A remains a key strategic tool to drive growth and build scale.
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