Origin specific trends
In 2022, the United States continued to account for the highest share of foreign bidder deals with eight - 32 per cent - of all foreign bidder deals. This was followed by Canada and the United Kingdom which each accounted for 16 per cent of foreign bidder deals. Again, of note, no foreign bidder deals came from China.
We have continued to observe bidders from certain countries prioritise Australian targets in specific sectors. Bidders from the United States, for example, have expressed keen interest in Australian technology, software and services companies, an interest we expect to remain strong in the coming year.
Canadian bidders have also emerged as significant acquirers of Australian metals and mining targets, particularly those with gold assets. However, if we are to take Newmont’s recent proposal to acquire top Australian gold miner Newcrest as an early sign of foreign appetite for these assets, Canadian bidders may face greater competition from their southern neighbours in 2023.
China, too, will be one to watch. While no foreign bidders originated from China in our 2022 review, we are hopeful the recent improvements in Australia’s foreign relations with China will reignite inbound investment.
2022 Foreign Bidders by Origin