While below the extraordinary levels of activity in recent pandemic years, Australia has seen significant public merger and acquisition (M&A) activity so far in 2023.

Amidst a subdued initial public offering (IPO) market, reduced levels of venture capital investment, a volatile share market and other current economic circumstances, there have been notable changes in takeover trends.

In this article, Takeovers: 8 trends and takeaways, we delve into eight noteworthy trends and takeaways for investors, directors of public companies and shareholders including; 

• Reduced market valuations driving opportunistic offers
• Bidders structuring concurrent schemes and takeover bids
• ESG factors driving takeover activity
• Target boards and acquirers continuing to challenge each other's disclosure 
• Private equity continues to be involved in take-privates 
• Big superannuation fund involvement is increasing the size of target companies
• Foreign investment represents a large stake of Australian takeovers
• ACCC is proposing major merger law reforms 

Source: Colin Biggers & Paisley Lawyers