July M&A Activity Steams Forward, Despite Market Woes
Via the Wall Street Journal comes news that July was a surprisingly strong month in the M&A market.
Using data compiled by Dealogic, the article points out that deals with a value of $544 billion were struck in July, more than double that of the same period a year ago. The total was buoyed by deals for Alcan Aluminum ($39 billion) and Hilton Hotels ($19 billion).
Much of that activity commenced before the debt market began to feel repercussions from the mortgage markets and recent weeks have seen a number of prominent debt offerings scuttled. Most analysts expect Wall Street bankers to bunker down on the east end during August, hoping the storm passes quickly.
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