M&A reaches record high

Strict measures: The quiet city centre of Sydney during the current lockdown. Australia finds itself fighting a resurgence of the coronavirus pandemic. — Reuters

SYDNEY: Australia has notched its biggest quarter for deals on record, as a sense of urgency grips companies positioning themselves for a vibrant post-pandemic economy, according to Morgan Stanley.

The A$70.9bil (US$51bil or RM215bil) in mergers and acquisitions (M&A) transactions targeting Australian companies since July began is now the highest total of any quarter dating back to at least 1998, according to data compiled by Bloomberg.