Greg Quinn from EAC Partners writes about how the COVID-19 virus has continued to cast a shadow over the Australian financial markets during the month of May.
Impact
Over the month of May, the COVID-19 virus has continued to cast a shadow over the Australian financial markets.
- Throughout the period of May, ANZ mid-market M&A activity fell by 90.5% year-on-year to a total disclosed deal value of AU$220M
- The COVID-19 environment is further changing the types of deals being executed. There may be a greater focus on the execution of small and medium sized deals in the coming year. Additionally, the proportion of domestic deals is expected to increase as COVID-19 further curtails cross-border activity
- The business services and technology sectors are contributing to a higher proportion of deals (39%) as people adjust to a COVID-19 affected reality
