Morning Report Friday 3 July 2015
Three Takeover Targets as M&A Activity Gains a Head of Steam
It feels like corporates are pulling the trigger on Mergers and Acquisition (M&A) deals before the free/cheap money disappears. In Australia for example, we have recently witnessed takeover bids for iiNet (IIN), Sirius Resources (SIR), Recall (REC), Skilled Group (SKE), Kathmandu (KMD) and Asciano (AIO) - for an investor, the big question is always - Who’s Next? Australia is in its fourth M&A cycle in 20 years and is potentially only half way through it. We believe that when investing in a company, a potential takeover should be cream on the cake, NOT the sole reason for purchase. Today, MarkertMatters focuses on three potential targets, also investors should not forget that corporate activity is also great for Investment Banks like Macquarie Group (MQG).
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