Business Services Industry

Merchant bankers may find it a struggle.

Australasian Business Intelligence, January, 2003

Jan 02, 2003 (The Sydney Morning Herald - ABIX via COMTEX)

Market analysts remain uncertain of the mergers and acquisitions market in Australia for 2003. After activity fell almost 30 per cent in 2002, the merchant banks leading the mergers and acquisitions market by value, Macquarie Bank and JP Morgan, both state that there will be further rationalisation within the merchant bank industry, with too many companies in a shrinking market. That situation also applies globally, according to JP Morgan's MD, Trevor Loewensohn. Macquarie Bank's joint head of corporate finance, Michael Carapiet, said resources, utilities, and the finance sector will provide most of the merger activity again in 2003. Macquarie Bank handled merger and acquisition business valued at...

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