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Interview

China's lost M&A from trade war can be Japan's gain: Goldman COO

Shareholder activism offers 'big opportunity' for bank to guide baffled companies

The U.S.-China trade war presents an opportunity for Japanese companies to buy assets overseas, Goldman Sachs Group President and COO John Waldron told Nikkei. (Photo by Hideki Yoshikawa)

TOKYO -- U.S.-China trade tensions have sharply curtailed Chinese mergers and acquisitions overseas, giving Japanese players an opening for global deals, says John Waldron, president and chief operating officer of Goldman Sachs Group.

"So two to three years ago, we saw quite a lot of outbound Chinese M&A flow. That has substantially reduced," Waldron told Nikkei in a recent interview, adding that "we're not planning for that to start to come back any time soon." The drop-off stems from concern about China's economic outlook amid the trade war, as well as what amounts to a freeze on Chinese merger and acquisitions in America.

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