September 7 - Financial Post (Canada) - If mergers and acquisitions are going to continue to drive stocks higher, forget about getting much of a boost from private equity buyout firms.
These firms had been playing an increasingly important role during the buyout boom earlier this year and were involved in big deals, like the takeover of Bell Canada Inc. and Chrysler. Now, though, they appear to be withdrawing from the market.
According to Jeff Rubin, chief economist and chief strategist at CIBC World Markets, global private equity deals hit a peak of about US$150-billion in May, but then declined substantially in June and again in July. In Mr. Rubin's words, they then fell off a cliff: In August, there were just US$17.8-billion of private equity deals, a tiny fraction of their former glory. Read More.
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