February 14 - FT.com - Mergers and acquisitions in the energy industry remained robust even during the financial turmoil in the second half of last year, but activity for some types of deal is likely to be weaker this year, according to a survey from PwC, the professional services firm.
Takeovers by companies from emerging markets such as China and India slowed last year and most of the biggest deals involved financial buyers or significant debt financing. Both of those factors are likely to be less evident this year because of tighter credit conditions, M&A advisers believe.
Michael Hurley, PwC’s UK head of energy, said: “It is going to be more difficult for some of the deals in downstream businesses, which are more linked to the economic cycle, to get away.” Read More.
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