Mega metal deals grind down in 2013 as bite size deals take off
In our annual in-depth metals M&A review and forecast, Forging Ahead’s headline trend is for a continuing recovery from a post credit-crunch low, but a recurring theme across all regions this year is the focus on select, small to medium sized purchases rather than mega acquisitions. Internal cost cutting will be a top priority for CEOs with caution being the 2013 watchword amid volatile economic times and energy prices.
Jim Forbes, global metals leader, PwC, said:
“There is no doubt that the industry is facing some of its toughest challenges yet, as companies battle the headwinds of ongoing economic uncertainty and unpredictable costs around raw materials and energy. On the surface, we are still seeing some mega-deals, but they are fewer. If we created a top 10 of the deals announced and done in 2012, just half would have been valued above US$1 bn.“
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