June 25 - Reuters (U.K.) - Italian defense manufacturer Finmeccanica SpA's recent $4 billion acquisition of U.S. defense company DRS Technologies Inc was a big one, but it is not the last one.
More European defense manufacturers looking to gain a presence in the U.S. defense market -- the world's largest -- will likely be targeting U.S. defense suppliers.
Increasing acquisition activity is also expected within the domestic defense sector as suppliers consolidate to become one- stop shops for manufacturers such as Boeing Co, Lockheed Martin Corp and Northrop Grumman Corp. Read More.
Showing posts with label the dollar. Show all posts
Showing posts with label the dollar. Show all posts
Friday, June 27, 2008
Tuesday, June 17, 2008
M&A Activity Down but Not Out: Strong Cross-Border Deal Environment, Middle Market and Corporate Deal Activity and Robust Sectors Bolster M&A Market
June 16 - PRNewswire - With approximately US$1 trillion in global deal volume recorded during the first 19 weeks of 2008 vs. US$1.4 trillion during the same time last year, total transaction volume so far in 2008 has fallen below the record highs of 2007. However, merger and acquisition activity is expected to stabilize throughout the remainder of 2008 and the first half of 2009, according to Ernst & Young LLP's Transaction Advisory Services group.
"PE firms and corporations still remain armed with tremendous arsenals of cash to conduct transactions once the lending environment is restored,"said John O'Neill, Ernst & Young's Americas Director of Private Equity. "Once the overhang from the credit crunch is gone and lenders return to the transactions table and sellers adjust to more rational price expectations, we expect to see this cash funneled directly into the deal market." Read More.
"PE firms and corporations still remain armed with tremendous arsenals of cash to conduct transactions once the lending environment is restored,"said John O'Neill, Ernst & Young's Americas Director of Private Equity. "Once the overhang from the credit crunch is gone and lenders return to the transactions table and sellers adjust to more rational price expectations, we expect to see this cash funneled directly into the deal market." Read More.
Friday, May 16, 2008
M&A Deal Activity in Industrial Products Slows
May 14 - Modern Distribution Management - Weakness in the U.S. economy continues to affect M&A deal activity and value in the industrial products sectors, specifically industrial manufacturing, chemicals, and metals, according to a series of PricewaterhouseCoopers LLP first quarter M&A reports. While deal activity remains steady, deal volume and value is not on pace to exceed 2007 levels; however, the number of deals announced during the quarter is on track to meet or exceed 2006 levels.
The slowdown in the pace of large deals announced in the first quarter is a direct reflection of the difficult financing environment. Only the transportation & logistics sector is on pace to exceed the level of large deals in both 2006 and 2007. Deal interest for targets in Asia has been particularly strong during the quarter across each subsector. Additionally, the weak U.S. dollar is driving the increased interest in U.S. targets by cross-border acquirers. Read More.
The slowdown in the pace of large deals announced in the first quarter is a direct reflection of the difficult financing environment. Only the transportation & logistics sector is on pace to exceed the level of large deals in both 2006 and 2007. Deal interest for targets in Asia has been particularly strong during the quarter across each subsector. Additionally, the weak U.S. dollar is driving the increased interest in U.S. targets by cross-border acquirers. Read More.
Monday, March 03, 2008
RSM to conduct survey on SMEs
March 3 - The Star Online (Malaysia) - RSM Strategic Business Advisors Sdn Bhd plans to conduct a survey on Malaysian small and medium-sized enterprises (SMEs) and the middle market players by next month.
Executive director Girish Ramachandran said that having reported on the global front for middle enterprises, the local middle market enterprise survey was part of its efforts to create a value-added report in Malaysia.
“Our business strategy is to complement and drive the potential market growth of the local middle market enterprises,” he told StarBiz. Read More.
Tuesday, February 26, 2008
Why M&A Is Back, for Now
What's behind the new urge to merge? The November election, for starters
February 22 - BusinessWeek - Despite a credit crunch and recession worries, the dealmakers have returned to Wall Street.
Their current run includes Microsoft's $44 billion bid for Yahoo!. Major U.S. air carriers are reportedly talking about mega-mergers. And a wave of smaller deals has hit the headlines, including Reed Elsevier's $4 billion buyout of ChoicePoint.
So far it's a pale imitation of 2007, when private equity firms used cheap credit to gobble up company after company. That pumped up the stock market in the first half of the year, just before the credit crunch took it down again. Read More.
February 22 - BusinessWeek - Despite a credit crunch and recession worries, the dealmakers have returned to Wall Street.
Their current run includes Microsoft's $44 billion bid for Yahoo!. Major U.S. air carriers are reportedly talking about mega-mergers. And a wave of smaller deals has hit the headlines, including Reed Elsevier's $4 billion buyout of ChoicePoint.
So far it's a pale imitation of 2007, when private equity firms used cheap credit to gobble up company after company. That pumped up the stock market in the first half of the year, just before the credit crunch took it down again. Read More.
Thursday, December 13, 2007
U.S. Credit Markets to Create Some Favorable Valuation Opportunities for Buyers in 2008 U.S. M&A Fueled by Corporate and Cross-Border Activity
December 12 - PRNewswire - M&A activity in 2008 will be dominated by corporate and foreign buyers and the middle market will continue to be active, according to the Transaction Services group of PricewaterhouseCoopers. "The era of public-to-private transactions is on hold for now. However, the downturn in mega-deals by private equity will be offset by an increase in international buyers coming into the U.S. to take advantage of a continued weaker dollar. We also believe that more traditional private equity transactions will build momentum as 2008 progresses. We expect financial markets to quickly respond to put liquidity back into more balanced leverage lending," said Bob Filek, a partner in PricewaterhouseCoopers' Transaction Services group. Read More.
Wednesday, December 12, 2007
Global deals to drive record M&A activity from Asia
December 11 - Reuters - Asian companies and government funds are set to keep up their global buying spree in 2008, powered by a sagging dollar, cheap targets in the financial sector and strong balance sheets.
India and China's hunger for foreign assets and a frenzy of activity in the booming commodities sector triggered record merger and acquisition volumes in Asia outside Japan in 2007, with outbound acquisitions on track to triple last year's total.
That momentum is poised to continue as Asian buyers using swelling foreign exchange reserves look for natural resources, brands, distribution and know-how. Banks and government funds, meanwhile, are stepping in to bail out Western financial institutions reeling from the subprime mortgage crisis. Read More.
India and China's hunger for foreign assets and a frenzy of activity in the booming commodities sector triggered record merger and acquisition volumes in Asia outside Japan in 2007, with outbound acquisitions on track to triple last year's total.
That momentum is poised to continue as Asian buyers using swelling foreign exchange reserves look for natural resources, brands, distribution and know-how. Banks and government funds, meanwhile, are stepping in to bail out Western financial institutions reeling from the subprime mortgage crisis. Read More.
Friday, October 19, 2007
DEALTALK - Cross-border mergers defy U.S. slump
October 18 - Reuters - Even as tight credit conditions curb the urge among U.S. dealmakers to go shopping, the international mergers and acquisitions market is setting records.
Multinational corporations have been expanding into emerging markets, while foreign companies are using stronger currencies to pursue acquisitions -- especially in the United States.
So far this year, cross-border deals have reached a record high of $1.47 trillion, up 82 percent from the same period in 2006, according to research firm Dealogic.
"The value of the dollar, and the credit situation, are going to have less impact on these types of deals," said Mike Rogers, a partner in Ernst & Young's transaction advisory services group in Dallas. Read More.
Multinational corporations have been expanding into emerging markets, while foreign companies are using stronger currencies to pursue acquisitions -- especially in the United States.
So far this year, cross-border deals have reached a record high of $1.47 trillion, up 82 percent from the same period in 2006, according to research firm Dealogic.
"The value of the dollar, and the credit situation, are going to have less impact on these types of deals," said Mike Rogers, a partner in Ernst & Young's transaction advisory services group in Dallas. Read More.
Thursday, September 20, 2007
Dollar Near Record Low Versus Euro Before Bernanke's Testimony
September 20 - Bloomberg - The dollar traded near a record low against the euro on speculation Federal Reserve Chairman Ben S. Bernanke will signal a U.S. housing slump threatens to slow economic growth in congressional testimony today.
The U.S. dollar fell against 15 of the 16 most-active currencies as traders bet the central bank will cut its benchmark interest rate further after the first reduction since June 2003 on Sept. 18. The currency dropped to the lowest in nine years against the Indian rupee and a six-week low against the Australian dollar.
"We're going to see a continuation of U.S. dollar weakness,'' said Greg Gibbs, a strategist at ABN Amro Holding NV in Sydney. "Bernanke will talk about the housing market and how that could flow through to the rest of the economy. The possibility of more U.S. rate cuts is completely open.'' Read More.
The U.S. dollar fell against 15 of the 16 most-active currencies as traders bet the central bank will cut its benchmark interest rate further after the first reduction since June 2003 on Sept. 18. The currency dropped to the lowest in nine years against the Indian rupee and a six-week low against the Australian dollar.
"We're going to see a continuation of U.S. dollar weakness,'' said Greg Gibbs, a strategist at ABN Amro Holding NV in Sydney. "Bernanke will talk about the housing market and how that could flow through to the rest of the economy. The possibility of more U.S. rate cuts is completely open.'' Read More.
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