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The ASX stocks looking ripe for takeover as M&A interest builds

Last week's AirTrunk sale has reinvigorated dealmakers, sparking hopes that a new wave of M&A activity could soon hit Australian shores.

Jack Derwin
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Dealmakers report a sense of optimism that the M&A market is turning around — with a number of potential targets being discussed. Shutterstock.

With earnings season now past and the year’s end approaching, conditions are improving for another wave of M&A deals on the ASX.

Dealmakers report a real sense that activity is picking up, spurred by the blockbuster sale of AirTrunk to Blackstone and multiple tailwinds, including the weak Australian dollar and significant dry powder in private equity.

“We’ve got quite a bit going on in terms of sale processes [and] clients looking at listed companies, so we actually feel cautiously optimistic,” Ashurst head of M&A Neil Pathak told media last month.

This sentiment has only strengthened in recent weeks, with REA Group floating a $9 billion takeover of Rightmove — a move expected to trigger a bidding war over the UK listings portal.