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Daily Dispatches: M&A boom continues in Q1

Mergers and acquisitions boomed in Asia in the first quarter in sharp contrast to a slump in deal volume in Europe and the US, underlining a global shift in activity in the wake of the credit crisis. The value of global M&A overall rose 6 per cent to US$442bn in the first quarter of 2010, boosted by the surge of deals in Asia, according to data from Mergermarket. (Financial Times)

Mitsubishi UFJ Financial Group said Tuesday it has reached a final agreement with Morgan Stanley to integrate their Tokyo brokerage operations from May 1. Mitsubishi UFJ Group acquired about 20 per cent of Morgan Stanley in September 2008, when the US firm was being roiled by the financial crisis. (Wall Street Journal)

Standard Chartered is poised to become the first foreign company to obtain a stock market listing in India and will now turn its attention to securing a Chinese listing. The emerging markets bank, which on Tuesday filed a draft prospectus with the Indian stock exchange, said it aimed to raise about US$500m through the listing of the first Indian Depositary Receipt. (Financial Times)

JPMorgan has emerged as a major beneficiary of last year’s investment banking boom, with profit in its Australian operations growing by nearly 40 per cent. (The Australian)

National Australia Bank has finalised its A$14bn bid for Axa Asia Pacific, after reaching an agreement with the takeover target’s French parent following months of negotiation. (The Australian)

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