BREAKFAST DEALS: Mining funk

PricewaterhouseCoopers figures show global mining M&A is struggling, while Westfield extends its sell-off strategy.

Global mining deals are at their lowest levels since 2005. Without the Glencore-Xstrata merger and the potential for divestments from BHP Billiton and Rio Tinto, the sector would be terribly quiet. Australian equity capital markets are on the up, however. Meanwhile, Westfield Group has divested yet more half-stakes as part of its capital-light strategy, engineering group Clough is on the lookout for acquisitions after cashing in a great stake purchase and DuluxGroup has found some extra synergies from the Alesco Corporation buy.

Australia’s M&A Scoreboard

While BHP Billiton and Rio Tinto might appear in deals-related headlines in 2013, it will be in the context of a general decline of mining M&A.

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