The latest cycle of deal making - 2014 marked the best year for mergers and acquisitions since 2007 - - has years to go, a veteran Wall Street banker said.
Bloomberg News reports that Ken Moelis, who has helped companies from HJ Heinz Co. to NYSE Euronext find buyers, said mergers and acquisitions have gone through three broad cycles since the early 1980s, usually with three- to four-year breathers in between.
After a slump from 2009 to 2012, the latest cycle started about 18 months ago, he said.
Moelis, 56, founded Moelis & Co. eight years ago and took the company public last April. Speaking by phone Wednesday, he said:
'What I see going on around the world in M&A is an attempt to get every possible efficiency you can possibly get,' Moelis said. 'This new cycle is about disinflation, deflation and cost-efficiency.'
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