By John Richardson CHEMICALS companies don’t always disappear when things turn bad. Ownership can instead just change hands. Reasons for this include the fact that private investors are of course always seeking to make money from any crisis. Why not buy perfectly good assets for just a few cents on each dollar of debt of […]
Asian Chemical Connections
Glass half full or half empty?
By Malini Hariharan Despite a bleak global economic environment in the near term and uncertainty on how deep the next crisis will be chemical industry executives appear to be remarkably bullish about future prospects as is evident in KPMG’s latest industry survey. Eighty five per cent of the 142 senior chemical industry executives surveyed in […]
M&As – value creation or destruction?
By Malini Hariharan The current slowdown in M&As is perhaps for the best as according to a recent report by Alembic Global Advisors the chemical industry has a track record of value destroying M&A activity. The study, which looked at deals of over $500m since 1990, evaluated M&As on stock performance, return on capital, operating […]
Could Pride Come Before A Fall?
This article from Reuters highlights the danger of overpaying for assets in the current India M&A frenzy.Perhaps its point about the overall of over-confidence is valid, especially given that previous deals were small scale. Other Indian companies, following Tata Steel’s lead, are starting to bid the big league. Integrating small acquisitions to add value is […]
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