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Connect 4 Pty
Ltd Tel: +61 3 8420 7200 Fax: +61 3 8420 7222 sales@connect4.com.au |
| CONNECT 4 - 2006 – Mid Year IPO Survey |
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Activity in the M&A market has bounced back in the first six months of 2006 to set up a potential record breaking year. A total of 38 deals were announced totaling an implied market value of $26,252.76(M)* This was a 25% increase in the number of transactions from the previous 6 months and over double the market value from the last half of 2005. The first week of July has seen a further 6 deals announced, keeping up the momentum, and ensuring the legal industry will continue to reap the benefits of this boyant market. Takeover activity has been spread evenly over all industries with some emphasis on the Utilities and Metals & Mining sectors. The largest deal announced in the first half of 2006 was Alinta’s takeover bid for The Australian Gas Light Company. Blake Dawson Waldron - 1st Half Leaders Blake Dawson Waldron, who are acting for Alinta, were the leading firm in the first half of the year with 5 deals valued at $14,560. They were followed by Gilbert + Tobin – 2 deals valued at $11,636, Mallesons Stephen Jaques – 8 deals valued at $8,845, Clayton Utz – 4 deals valued at $6,115, and Allens Arthur Robinson – 6 deals valued at $$3,973. The following tables summarise the M&A activity for the first six months of 2006 *Refer to Survey Criteria.
Legal Advisers – Mergers & Acquisitions – First Half 2006
The first six months of 2006 saw 38 deals come on to the market with a total implied market value of $26,252.76(M). This was a significant increase to the previous six months which saw 30 deals announced for a total value of $11,646(M). If the current trend continues, the full year result could see a record for both the number and value of transactions. The most deals announced was in 2001 which saw 70 transactions announced. The highest value of transactions was $76,951 which was achieved in 2004. The following table summarises the 5 most active Legal Advisers for M&A work involving ASX listed companies.
Top 10 Deals – 1st Half 2006 The following transactions represent the top 10 M&A deals which were announced during the period 1st of January to the 30th of June 2006.
Survey Criteria and Definitional Terms The figures provided in this survey include all Mergers & Acquisitions announced from the 1st of January 2006 to the 30th of June 2006. The deals which have been included are “On-Market” and “Off-Market” where the Target is a company which is listed on the Australian Stock Exchange. Private treaty acquisitions are not included. This survey does not include: - Exempt Foreign Entities (as defined by the Australian Stock Exchange). - Partial Acquisitions as per the Australian Corporations Law. - Withdrawn Offers where no documentation has been sent to Shareholders. This survey has been compiled using original documentation lodged with the Australian Stock Exchange. The values of the deals put forward have been calculated using an “Implied Market Value” methodology.
* Total Implied Market Value does not include:
- Metals Exploration Ltd (Target) - Bluestone Tin Ltd (Bidder) - WebCentral Group Ltd (Target) - Melbourne IT Ltd (Bidder) - Villa World Ltd (Target) - MFS Diversified Group Ltd (Bidder) - Longreach Group Ltd (Target) - Allied Technologies Group Ltd (Bidder)
As of the 1st July, 2006 no documents have been issued for these transactions. |
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