Auto industry M&A activity up in 1st half, but values sink
Sep 03, 2010 | 11:33 AM
| Corinna Petry
The global automotive industry experienced a "cautious uptick" in merger and acquisition (M&A) deal volumes in the first half of the year, although it came against a backdrop of the lowest deal value in five years, according to a report.
"It is evident that economic conditions constrained the deal market, forcing buyers to focus on synergistic transactions" this year, according to Paul McCarthy, U.S. automotive transaction services strategy leader at consultancy PricewaterhouseCoopers LLP (PwC), noting that 265 deals closed during the period with a disclosed value of $11.6 billion, down 63.3 percent from the same six-month span last year.....
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