Financial Services Industry
Industry: Email Alert RSS FeedMellon seeks global arbitrage opportunity.
Financial News, August, 2002
Mellon HBV alternative strategies, a subsidiary of Mellon Financial Corporation, has added a global risk arbitrage investment discipline to its fund management capabilities.The new strategy is a response to the acceleration of public company consolidations. According to MergerStat and Dealogic, a US-based mergers and acquisitions consultant, the annual volume of announced mergers increased by more than 580% between 1993 and the end of 2001, despite slowing since mid-2000.
Mellon says it is attempting to capitalise on this heightened activity, although the firm seems likely to struggle in the short term with the current lack of appetising merger possibilities.
Jonathan Bean, managing director of Mellon HBV, says: "This new strategy complements our...
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