After one of the toughest periods for M&A in decades, some high profile announcements have got everyone talking. We are entering a test period for M&A, where more quality assets are coming to market than we have seen in 18 months. Successful completions will depend on vendor price expectations coming into line with acquirers’ views. If the majority of these deals close, it may well signal a more buoyant 2010.
Ongoing challenges in the debt markets will create an hourglass shaped M&A market where there are a number of mid-market transactions and mega deals beyond , but where there is a dearth of deals in the upper mid-market due to equity and debt constraints.
However, marketing businesses to corporate acquirers will require a different approach, and realising value will depend on getting this right.
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