The Reserve Bank of Australia has published Research Discussion Paper RDP 2026-04, which combines administrative datasets and methodologies to create what it describes as the first large-scale database of Australian mergers and acquisitions over the past 20 years. The paper is intended to address the lack of comprehensive M&A data in Australia, where there is no formal requirement for merger parties to notify the regulator, limiting research on the effects of M&A activity on competition, prices and productivity. The database is built using three approaches: tracking clusters of employees moving between firms in a linked employer-employee database, identifying firms moving between tax consolidated groups, and capturing firms that submitted takeovers and other notification forms to the Australian securities regulator. Together, these approaches identify around 1,500 mergers a year. The analysis finds that targets are more likely to be mid-sized, high-profit but low-productivity firms, as well as firms with many patents, while acquirers are more likely to be large entities with trademarks. It also finds evidence of serial acquisitions, particularly in several high-profile industries.
Reserve Bank of Australia2026-07-09
Reserve Bank of Australia publishes research paper creating first large-scale database of Australian mergers and acquisitions
The Reserve Bank of Australia has published a research paper that builds what it describes as the first large-scale database of Australian mergers and acquisitions, using administrative data spanning the past 20 years. The dataset identifies around 1,500 mergers a year and points to targets being more likely to be mid-sized, high-profit but low-productivity firms, while acquirers are more likely to be large entities with trademarks. It also finds evidence of serial acquisitions in several high-profile industries.