Merger Activity Declines: The number of mergers...
From Times Staff and Wire Reports
Merger Activity Declines: The number of mergers and acquisitions dropped 10% in August from July, while the dollar value of the deals fell 63%, IDD Information Services said. The research firm said 295 deals valued at $10.1 billion were announced in August, compared to 328 transactions valued at $26.9 billion in July. Elbert Ruff, senior analyst at IDD, attributed the drop to the increasing unpopularity of junk bond deals, making funding harder to come by, and to U.S. companies’ growing preference for “strategic” rather than “financial” deals.
