During the very early part of 2006 equity market returns have certainly been impressive. This is par...
During the very early part of 2006 equity market returns have certainly been impressive. This is partly due to strong ongoing corporate results, and equity valuations that appear undemanding. But what has really stood out as the catalyst for stronger-than-anticipated markets has been merger and acquisition (M&A) activity. During 2005 global M&A activity increased by over 40% and this trend has continued into 2006 with a raft of high-profile news-flow, not least in the UK and Europe. Somewhat unusually, the share prices of most recent acquirers have been well supported, reflecting that com...
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