BusinessCompany NewsCashed up vulture financiers ready to hit

Cashed up vulture financiers ready to hit

Cashed-up financiers such as Warren Buffett are circling companies hit by US financial turmoil

Cash-rich financiers such as Warren Buffett, Wilbur Ross and Ron Perelman are
preparing to pounce on US companies struggling in the financial turmoil, said to
herald a new era of ‘vulture investing’.

After years of being pushed to the sidelines by high valuations and fierce
competition from private equity, so-called ‘value’ investors believe the
financial and capital market crisis now offers a great opportunity to buy
companies at bargain prices, according to the Financial Times (FT).

Ross, who is considering either buying into one of the troubled monoline
insurers or setting up a new one, told the FT the turmoil provided an
embarrassment of riches. ‘Nowadays so many things are starting to come unglued
that the real problem is sorting out what the real opportunities are,’ he said.

Perelman, who has picked up a collection of businesses such as Revlon by
taking over companies in distress, said he regarded the current conditions as a
‘buying opportunity’.

Read
story in the Financial Times

Related Articles

BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

3m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

7m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

7m Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

10m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

10m Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

10m Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

10m Emma Smith, Managing Editor
Mazars strengthens audit team with partner appointment

Accounting Firms Mazars strengthens audit team with partner appointment

10m Emma Smith, Managing Editor