October 23 - Star Tribune (Minn.) - A top executive of the former Goldsmith Agio Helms doesn't expect a major slowdown in the mergers-and-acquisitions business in the midsize deal market even though bankers are getting more conservative amid the severe credit crunch.
"We had nine deals close in the third quarter, and that's a healthy number," said Mike McFadden, co-chief executive of the M&A advisory firm now called Lazard Middle Market, after its new Wall Street owner. "The private equity firms, the financial buyers were very aggressive on pricing. We're seeing strategic buyers [industry peers] continue to be active, and they are winning more companies at competitive prices."
In short, the premiums are coming down in some cases as chastened bankers, gulping over big third-quarter writedowns on everything from vacant condominium projects to subprime mortgage investments, get more conservative in a tenuous economy. Read More.
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