Some 55 deals were announced in 2014-15, down on the previous record low of 59 (registered in 2012-13) and significantly lower than the 77 announced in 2013-14. Co-author of the report Paul Branston said that the industry had been taken by surprise, as they had expected more of last year's activitiy to continue.

Later momentum

General volatility as well as uncertainty from China and Europe may have influenced this year's market, he said. However, the year ended well, he added: 'We saw a shift in momentum in the second half of 2014-15, with all of the mega deals being announced in this period.' So far, the current year has maintained the momentum of the second half of 2014-15. 

Deal values

Deal value was A$28bn, down on the $43bn registered for 2013-14 but up on the $12bn recorded in 2012-13. Source: Lawyers Weekly