Australia’s deal market is experiencing a dramatic surge in competition. Three players currently have their hat in the ring for WCBF, which is an example of a real turning point for the Australian deal landscape.
In early December, the Australian Federal Treasurer Joe Hockey announced he would not approve Archer Daniels Midland’s proposed takeover of grain handler GrainCorp. It was a decision that was closely watched by those in the financial markets both in Australia and abroad. The decision was made hot on the heels of newly elected Prime Minister Abbot’s statement during his victory speech that “Australia is under new management” and “open for business.”
The Australian economy is in a very strong position compared to most locales around the globe. The current environment is perfectly suited to local business adopting a predatory role in global business transactions by seizing opportunities, moving decisively and adapting to new trends in due diligence.