M&A activity to stay quiet in ’13: PwC
Dec 28, 2012 | 01:44 PM
| Anne Riley
Tags
PwC,
steel,
aluminum,
M&A,
Sean Hoover,
Anne Riley
NEW YORK — Merger and acquisition (M&A) activity slowed dramatically in the global metals and mining industry in 2012, and that trend is unlikely to change in 2013 as companies throughout the supply chain maintain a cautious outlook, according to a PricewaterhouseCoopers LLP (PwC) executive.
"From talking with our metals clients, and more specifically our steel clients, the biggest concern is the general economy. I think ... they’re cautiously optimistic about what 2013 has in store," Sean Hoover, metals leader for the company’s U.S. industrial products practice, told AMM.
In 2012, the metals sector was on track to experience a year-over-year decline of up to 50 percent in total M&A deal value, according to a report by New York-based PwC.....
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