15 Key Trends to Watch in Mergers and Acquisitions for Australian Businesses in 2024

In 2024, the landscape of mergers and acquisitions (M&A) in Australia is poised for significant transformation....
January 18, 2024

As we look towards 2024, the landscape of mergers and acquisitions (M&A) in Australia is poised for significant transformation. Influenced by global economic shifts, technological advancements, and evolving regulatory landscapes, these trends are reshaping the approach to M&A. 

In this blog, we'll explore 15 key trends that are set to define the M&A space in 2024 for Australian businesses.


1. Shift in Deal Volume and Value

The M&A market is witnessing a shift in both deal volume and value. In Q2 2023, Australia saw 232 M&A transactions with a total transaction value of USD 13.8 billion [1]. This trend indicates a more strategic approach to M&A, focusing on value creation rather than the sheer number of deals.


2. Resilience Amidst Economic Fluctuations

Despite global economic uncertainties, the Australian M&A market remains resilient. Businesses are adapting to changing conditions, focusing on strategic deals that promise long-term value creation [2]. This resilience is crucial in navigating the fluctuating economic landscape.


3. Surge in Technology-Driven Mergers

Technology continues to be a significant driver in M&A. Companies are increasingly looking at acquisitions to bolster their technological capabilities, drive innovation, and enhance digital transformation. This trend is particularly evident in sectors like fintech, healthtech, and e-commerce.


4. Dominant Role of Private Equity

Private equity firms are playing a significant role in shaping the M&A landscape. With substantial capital and a strategic focus, these firms are pivotal in driving deal activity, especially in sectors ripe for transformation [3].


5. Emphasis on Sustainable and ESG-Compliant Investments

Sustainability and ESG (Environmental, Social, and Governance) compliance are becoming key factors in M&A decision-making. Businesses are aligning their M&A strategies with broader sustainability goals and ESG criteria, reflecting a shift towards responsible investing.


6. Critical Importance of Due Diligence and Integration

Successful M&A transactions increasingly hinge on comprehensive due diligence and effective integration planning. Businesses must navigate complex regulatory environments and plan meticulously for post-merger integration to harness the full value of acquisitions.


7. Growth in Cross-Border M&A Activities

Cross-border M&A offers Australian businesses opportunities for global expansion. However, these transactions come with their own set of challenges, including geopolitical risks and regulatory hurdles.


8. Increasing Role of Technology in M&A Processes

Technology is revolutionizing the M&A process. From virtual data rooms to AI-driven analytics, technological tools are streamlining the M&A process, making it more efficient and effective.


9. Focus on Human Capital and Cultural Integration

Human capital and cultural integration are becoming increasingly important in M&A. The success of a merger or acquisition often depends on the effective integration of people and cultures, emphasizing the need for strategic human resource planning.


10. Evolving Regulatory Landscape

The regulatory environment for M&A is constantly evolving. Businesses must stay abreast of changes in regulations and compliance requirements, which can significantly impact M&A strategies.


11. The Rise of Distressed M&A

Economic challenges are leading to an increase in distressed M&A opportunities. Businesses in financial distress are becoming targets for acquisitions, offering buyers the chance to acquire assets at competitive prices.


12. Strategic Divestitures and Spin-offs

Companies are increasingly looking at strategic divestitures and spin-offs as a way to streamline operations and focus on core business areas. This trend is about creating value by shedding non-core or underperforming assets.


13. The Growing Influence of Activist Investors

Activist investors are playing a more prominent role in shaping M&A strategies. These investors often push for changes in company strategy, including the pursuit of M&A opportunities, to unlock shareholder value.


14. Data Privacy and Cybersecurity in M&A

Data privacy and cybersecurity are becoming critical considerations in M&A. Acquirers are focusing more on the data security and privacy practices of target companies, given the increasing risks and regulatory focus in this area.


15. The Impact of Global Economic Policies

Global economic policies, including trade agreements and tariffs, are impacting M&A. Businesses need to consider the broader geopolitical landscape and its implications for cross-border M&A activities.


We’re here to help

At TNM Consulting, we understand the complexities of the evolving M&A landscape. 

Our team of experts is equipped to guide businesses through these changes, offering strategic advice and insights for successful deal-making.

The M&A landscape in 2024 is set to be dynamic and challenging. 

By staying informed about these trends and adopting a strategic approach, Australian businesses can navigate the complexities of M&A to drive growth and success.

Looking to stay ahead in the evolving world of M&A? 

Speak with the team at TNM Consulting. 

Our expertise in M&A can provide you with the insights and support you need to navigate this dynamic landscape. Contact us today to discuss how we can assist in your M&A journey.



  1. Australia M&A by the Numbers: Q2 2023 - S&P Global https://www.spglobal.com/marketintelligence/en/news-insights/blog/australia-ma-by-the-numbers-q2-2023
  2. The Australian M&A Outlook 2023: Industry Insights - PwC Australia https://www.pwc.com.au/deals/australian-mergers-and-acquisitions-outlook-industry-insights.html

3. Top Australian M&A Predictions for 2023 - Herbert Smith Freehills https://www.herbertsmithfreehills.com/insights/2022-12/top-australian-ma-predictions-for-2023

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