Takeovers: no big deal

Higher funding costs, weaker equity prices and a general lack of confidence have taken their toll on merger and acquisition (M&A) activity. The value of US merger deals fell to a six-year low in MarQ-02 and there seems to have been little subsequent improvement. Based on the value of deals done by the major investment banks, takeover activity during the first half of 2002 was down about one-third on a year earlier.


A similar downturn is evident in Australia with corporate takeover announcements falling to a three-year low in late Jun-02.
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