Hong Kong was the second-most targeted place for cross-border mergers and acquisitions (M&A) in Asia - excluding Japan and China - last year, according to a report by consultancy Dealogic.
With the help of the US$5.77 billion takeover of Dao Heng Bank by Singapore's DBS Group, Hong Kong attracted US$9.04 billion from 95 deals.
South Korea was the most targeted economy, attracting US$13.83 billion worth of foreign investment from 79 deals. Prominent transactions included the US$2.77 billion purchase of SK Telecom by Signum IX.
Hong Kong was also runner-up for the most active bidder in the region, spending US$4.55 billion on 159 transactions, the report said.
Singapore was the most active bidder, spending US$15.9 billion on 124 deals. Major transactions included the US$5.36 billion purchase of Overseas Union Bank by United Overseas Bank.
M&A volume in the region fell 36.28 per cent last year to US$82.08 billion, compared with US$128.83 billion in 2000.
Transaction numbers also dropped 33.2 per cent, with 1,151 deals announced, compared with 1,723 the previous year.
