From the SMH blog:
As merger and acquisition activity picks up in Australia, investors should be looking for ways to make money off the theme, say Credit Suisse strategists.
Investment bankers’ perennial New Year predictions that “this is the year for M&A” may finally be coming true, with a rash of corporate activity overseas – led by giants in the technology and pharmaceutical industries – leading to “fledgling signs” of a recovery in the local market.
Or, as the team at Credit Suisse say, in a heroic mixing of metaphors: “We can spot some green shoots in corporate animal spirits”.
“To the distress of many investment banks, activity has recently slowed to the trough levels of last cycle,” note the analysts, but the drought may be coming to an end: “we don’t think it takes much for CEOs to be convinced that a deal makes sense”.