The volume of China's outbound mergers and acquisitions fell in the first nine months of 2014, its first drop in three years, as state-owned firms turned cautious in the wake of a slowing economy and President Xi Jinping's crackdown on corruption. The value of outbound deals from China dropped by nearly 23 percent from the same year-ago period to $37.58 billion, according to preliminary data from Thomson Reuters.The decline was largely driven by a drop in overseas acquisitions as bureaucrats at state-owned enterprises shied away from making any deals that could invite unwarranted government scrutiny, bankers said.Companies are also worried about taking on more assets in a weakening economy which could fall short of the government's year-end growth target of 7.5 percent."There is a risk-off mentality in China," said a Hong Kong-based M&A banker who declined to be named as he is not authorised to speak to the media. "The government purge on business practices has resulted in a lot of people who are perfectly innocent but not wanting to take risk."
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 0.06% or $0.02/share to $36.28. In the past year, the shares have traded as low as $33.21 and as high as $38.73. On average, 653936 shares of TRI exchange hands on a given day and today's volume is recorded at 577648.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI fell by 0.1% or $-0.04/share to $40.45. In the past year, the shares have traded as low as $35.07 and as high as $42.10. On average, 635713 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 451392.
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