The Daily Telegraph reports that despite all the right ingredients for dealmaking being present – an uptick in the economy, available financing and growing confidence – deal activity has remained sluggish.
'A major component of M&A volumes comes from private equity and those portfolio companies that would traditionally be sold are being floated. Across the sectors, companies are achieving a premium in IPOs compared to sale'.
Investment bankers in M&A departments have felt the pinch as fees from advisory work on completed deals fell by almost a third to $265.5m, the lowest year to date since 2003, according to data from Thomson Reuters.
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