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ARTICLE · 25 MARCH 2013

M&A: Lessons for bidders and outlook for 2013

Clayton Utz
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Bidders need to be ready for protracted processes and long-term engagement before they get to an agreed transaction.

AustraliaCorporate/Commercial Law
Jonathan Algar
Jonathan Algar
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Partner Jonathan Algar talks to BRR Media on the lessons for bidders arising from M&A activity in 2012 and the outlook for 2013.

M&A: Lessons for bidders and outlook for 2013
David Bushby, BRR Media
Jonathan Algar, Partner, Clayton Utz

Jonathan Algar

Last year bidders were few and far between in our market, with only 41 deals over $50 million in the public M&A space. Bear hug approaches, which were essentially unsolicited conditional approaches that are subject to due diligence, were again very popular last year, however they were not necessarily resulting in agreed transactions after the approach had been announced, as we saw in Pacific Brands, Billabong and Arrium.

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