TOKYO, Aug 8 (Reuters) - Mitsubishi UFJ Morgan Stanley Securities, Japan’s top cross-border mergers and acquisitions advisor last year, has 50 percent more deals in the pipeline compared with the same time a year earlier, its chief executive said.
The joint venture of Morgan Stanley and Mitsubishi UFJ Financial Group earlier this year advised on Suntory Holdings Ltd’s $13.6 billion acquisition of U.S. whiskey maker Beam Inc, a deal which also involved a bridge loan of up to 1.4 trillion yen ($13.69 billion).
Chief Executive Takashi Nagaoka told Reuters that Japanese business leaders seem to be bolder about embarking on global M&A, including leveraged deals, as Japan’s shrinking population encourages them to look beyond their home market.
“We have both a long list and short list of possible deals being negotiated, but if you include them all I think a 50 percent increase would be too low. Everyone has excess cash and think they ought to do something,” he said. (1 US dollar = 102.2800 Japanese yen) (Reporting by Ritsuko Ando and Emi Emoto)