Mergers and acquisitions remained robust in Taiwan last year despite the global financial crisis, a Ministry of Economic Affairs official said on Sunday.
The official said 185 mergers and acquisitions worth NT$34.42 billion (US$1.08 billion) were made last year, of which 84.3 percent were mergers. Most deals came in the electronics sector, the official said.
The high rate of mergers reflected the ambition of local enterprises to boost their global competitiveness during the economic crisis by expanding their size, the official said.
Since the Merger and Acquisition Act (企業併購法) was promulgated on Feb. 6, 2002, there have been more than 1,300 mergers and acquisitions worth a total of NT$620 billion in Taiwan, ministry statistics showed.
Such deals are considered favorable to corporate restructuring and to help companies increase their economies of scale, cut costs, enhance production efficiency and boost international competitiveness.
Last year, the highest number of deals was seen in the electronics sector, with 40 deals, or 21.6 percent of the total, followed by 24 deals made in the construction sector and 16 in the communications industry, the ministry official said.
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