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Article

Title: M&A 2004: Heading for a Record Year?

Author: Stewart, Jules Article Type: Product Analysis
Source: Global Finance, v18 n2 p18(4) Publication Date: Feb 2004
  ISSN: 0896-4181
  Illustrations: Graphs, Tables
URL of Publication: http://www.gfmag.com

A discussion is provided of the possibility that 2004 might be a record year for mergers and acquisitions (M&A). Banking experts commenting include analysts and bankers. They agree in general that there will be more transactions than in the past year, which was a difficult year for Mergers and acquisitions (M&A). A spokesman for JPMorgan says there was substantially more activity in 4Q2003, but he also notes that there are no indications that M&As will return to 1999 or 2000 levels. Reasons cited include higher stock market valuations and more business confidence in the boardroom and more surety that the future can be predicted. A spokesman for Dresdner Kleinwort Wasserstein says a factor driving the recovery is that many companies have finished internal structuring programs that were started close to the end of 2000. Another analyst says some companies are better positioned to be more exploratory in 2004, due to improved balance sheets and because M&A is one way to create growth and deliver shareholder value. Among topics covered are the fragmentation of the global banking business; total M&As; Mergers and acquisitions (M&A) volume by industry in Europe and the U.S.; volume recovery in the U.S.; optimism for M&As in the telecom and European steel industries; and corporates efforts to reduce debt.

Special Features: Graphs, Tables

Products:
Mergers & Acquisitions

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