Mergers and Acquisitions rose 80% in the Asia Pacific region, driven by Western and mainland companies hungry for organic growth, says the South China Morning Post.
Citing figures from Thomson Reuters, the newspaper notes M&A deals reached US$106 billion in the first quarter, up from US$59 billion in the first quarter last year.
"Western companies want to participate in this high-growth region, and Chinese companies and their associates are also very active in acquiring assets in Asia, particularly in the resources sectors," Joseph Tong Tang, chief executive of Sun Hung Kai Financial, told the Post. Tong expects the trend to continue for the rest of the year as many mainland firms want to expand overseas through acquisition.
Globally, M&As rose by 6% to US$505 billion for the quarter, compared with US$476 billion in the same period last year, says the Post.