(China Alert) A target on your back

-M&A activity in China’s financial industry is moving offshore
-Global managers may soon find themselves as targets of Chinese takeovers

Update: M&A activity in the Chinese asset management business has been heating up recently, mainly driven by financial conglomerates. So far, global managers have been passive players, with stakes in certain joint ventures (JVs) changing hands. As global managers reassess their China strategy to see how a JV stake fits in, Z-Ben Advisors suggests they consider the strategy for as and when the global firm itself becomes the acquisition target. For Chinese financial conglomerates, the next piece of the market consolidation puzzle is to build out the offshore arm.

The prospect of Chinese firms buying their way into the global market is very real. This begins with corporate actions onshore. Over the past two years, Chinese financial conglomerates have been …

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