A rush of mergers and acquisitions this year has strategic bidders and cashed up private equity players being increasingly tactical in pursuit of targets, by using blocking stakes, reverse break fees, and making so-called bear hug approaches.

That is the view of lawyers and bankers canvassed by The Australian Financial Review who see conditions as conducive for continued strong deal flow, even as announced M&A activity has soared to its third highest year-to-date level on record.