Despite economic prospects looking less than rosy, corporate finance experts at mid-tier firm Grant Thornton said the market for mergers and acquisitions continues to develop, although buyers are exercising considerably more caution.
David Brooks, head of lead advisory at GT, said: ‘During 2002 the market will undoubtedly see mergers and acquisitions develop, as companies will need to maintain their competitive edge, particularly in the mid-corporate sector.
He added: ‘With the economy posing greater risks than before, buyers are also likely to avoid any risks, being much more cautious and demanding.’
Brooks pointed out that businesses will only be carrying out acquisitions that are crucial to a company’s growth rather than venturing into new areas.
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