Ovetii Managers Fear for Stability as European Merger and Acquisitions Activity Peaks
Released on: October 27, 2007, 6:17 pm
Press Release Author: Biz-24
Industry: Financial
Press Release Summary: Ovetii has reportedly revealed that mergers and acquisitions activity has slowed after recently running at record levels.
Press Release Body: A source close to the Athens based firm said that, According to a recent report by Ovetii, the fall in European mergers and acquisitions volumes have set records this year but the summer’s credit crisis has raised concerns over the takeover boom’s sustainability.
The fall in European M&A levels between July and August was the biggest on record, as was the decline between the second and the third quarters.
The source went on to say that, data providers at Ovetii issued a third quarter report published last week, which apparently showed a more than 8% fall in the expected deal pipeline in July, August and September, with takeovers worth €72.8bn ($103bn) due to close in the fourth quarter, down from €79.6bn predicted in June.
Analysts believe that the deal pipeline has been hit by a fall in private equity activity as buyout firms have found their access to cheap debt impeded by the credit market turmoil.
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