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"Strong resurgence" in M&A market may lead to more sales negotiations

Cheap equity valuations and low rates of debt financing may lead to more business deals being struck.

07 December 2010

Sales negotiations may be entered by a greater number of companies in 2011 after one expert said the key conditions are in place for a "strong resurgence" in dealmaking on a macro level.

Speaking to the Financial Times, Frank Aquila, mergers and acquisitions (M&A) partner at law firm Sullivan and Cromwell, noted multinational companies now have a large amount of cash at their disposal.

"Debt financing is available at historically low rates, equity valuations remain cheap and cost-cutting has made most corporations lean and efficient," he stated.

Co-head of European M&A at American bank Merrill Lynch Philip Noblet added that while deals struck will be different to those seen during the debt boom, he expects the availability of acquisition finance to lead to companies choosing this route to growth over returning cash to shareholders.

Last week, specialist UBS analyst in mergers and acquisitions Dan Stillit told the Daily Telegraph his firm is confident about the amount of deal activity that will occur over the next 12 months.

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