12 July 2010 22:46 [Source: ICIS news]
By Joseph Chang
“While company cash levels are high and profitability is improving, signs of a potential double-dip recession could influence M&A volumes going forward,” said Paul Bjacek, global research lead for chemicals at consultancy Accenture.
“Business people are jittery about the economy - whether we’re in for a double-dip or an extended period of low growth - and that’s not conducive to doing deals,” he added.
Fears of a double-dip recession have been stoked by the European debt crisis and resulting government spending austerity measures, continuing high unemployment in the
Chemical industry M&A, where it did happen, would be driven by companies seeking to get closer to the end-user customer, said Bjacek.
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