Intra-Asian merger deals double last year's pace

06/16/2008 | Financial Times (free content)

International mergers and acquisitions are skyrocketing in Asia as big companies expand in fast-growing markets in the region. The total value of announced intra-Asian deals reached $54 billion so far in 2008, more than double last year's pace, according to Dealogic. The steady rise since 2004, when M&A activity hit $35.2 billion, was highlighted by last week's announcement that Japan's Daiichi Sankyo planned to take over Ranbaxy Laboratories, India's biggest generic-drug maker, for up to $4.6 billion.

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