"It’s rare to see several transactions get announced over a short span of time," Steven Leung, an executive director at UOB Kay Hian Ltd in Hong Kong, said by phone. "Merger Monday is more common in the US given its sheer amount of deals." "The deals fall under sectors that are ripe for industry consolidation," said Sam Lee, head of equities research at China Merchants Securities Co’s Hong Kong unit. The same day, a Chinese investor group said it would buy the web-browser business of Norwegian developer Opera Software ASA. Some itchy investors started buying up shares of Wanda Hotel Development Co, which more than doubled its market value in Hong Kong before saying it wasn’t involved in the transaction.

Source: Bangkok Post July 10, 2017 14:37 UTC