THERE is no let-up in corporate executives’ appetite for acquisitions despite volatility in the stock market and mounting concerns over the global economy, particularly China.

    According to a survey released yesterday, consulting firm EY said the recent wave of mergers and acquisitions, or M&A, is set to continue over the coming year. It found that 59 percent of global companies are planning to secure at least one deal over the next 12 months, partly as a means of cushioning waning global growth as China’s economy slows.

    The figure for October is up from 56 percent in April and 40 percent in the same time last year. It represents the highest interest in acquisitions that EY’s survey of corporate deal-making has found in its six-year history. The low point was at the start, when only 24 percent of companies signaled the intention to make a takeover.

    “With modest increases in global gross domestic product, organic growth alone is not enough for companies to expand and reshape at the pace they need,” said Pip McCrostie, EY’s global head of transactions.

    “The search for growth is lifting deal-making to record highs, and executives are focusing on M&A to secure innovation, competitive advantage and market share for the foreseeable future,” she added.

    Merger and acquisition activity has already been up 35 percent on 2014, EY said. (SD-Agencies)