Megadeal Threat: Australia Briefing
A worker moves containers at the compound of ports operator DP World at Port Botany in Sydney on November 13, 2023.
Photographer: David Gray/AFP via Getty Images
Good morning from Sydney. It’s Ed here with the news you need to start your day.
Today’s must-reads:
• $24 billion worth of deals are under threat
• Barings plans a new private credit fund
• Freight piles up after cyberattack
Australian dealmakers are battling to rescue $24 billion worth of mergers that have been terminated or challenged by regulators and shareholders. That’s equivalent to about 40% of the year’s announced transactions targeting Australian companies, with many abandoned or challenged amid concerns over higher borrowing costs and an uncertain economic outlook.