Barack Obama has signalled he wants to increase capital gains tax (CGT) to
pay for his expansion of healthcare. The possibility of him becoming the next US
president could lead to a takeover spree over the next six months as companies
are likely to look for deals before his proposed tax changes.
Capital Markets (LCM), a New York investment firm, said yesterday concern
about higher capital gains taxes could trigger a spate of deals, particularly
for families wanting to sell their companies.
The LCM analysis co-incides with the sale of Rohm and Haas, a
family-controlled paints and materials company, to Dow Chemical for $18.8bn
LCM expects more family-owned companies to be sold in the near future,
including Marriott Hotels and Estée Lauder, the cosmetics company. The Lauder
family owns 58% of the company and 90% of the voting stock. LCM has identified
Procter & Gamble and L’Oréal as potential suitors.
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