These should have been lost years for Asia’s M&A bankers. Covid’s rapid spread led many of the region’s big markets – among them, China, Singapore and Australia – to all but close their borders to business travel.
M&A volumes should have collapsed. Instead, 2020 and 2021 have been strong and, in some cases, banner years.
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It’s easy to forget now, but this corner of the financial markets was already in trouble when the pandemic hit.
Total M&A activity for Asia ex-Japan in 2019 was $679 billion, down 10.3%
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