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Asia’s M&A activity on a high

Asia’s M&A activity on a high

(6 July 2005 - Asia) Merger and acquisition activity hit record levels across the Asia Pacific region in the first half of 2005. Helped by a giant bank takeover in Japan and with private equity firms targeting the region for expansion, M&A volumes in the region increased 59 percent in the six months to June over the same period of 2004, dominated by Japan, according to finance industry data provider Dealogic.

The region saw $245.2 billion in announced M&A deals, accounting for a record 18 percent of global M&A activity.

Excluding Japan, M&A figures are increasing rapidly in India and Indonesia, while China has fallen 15 percent in volume due to prior year comparative period including a sharp surge in telecom deals.

The $41 billion acquisition of UFJ Holdings by Mitsubishi Tokyo Financial Group dominated Japan's numbers where the volume of deals almost doubled to $128.7 billion.

Japan's new bank, known as the Mitsubishi UFJ Financial Group, will have assets of $1,800 billion, about 20 percent more than Citigroup, making it the world's biggest bank when it opens its doors as a merged entity on 1 October.

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