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Article: Financial services: M&A activity picks up. (chemical industry mergers and acquisitions)
- Article from:
- Chemical Week
- Article date:
- September 14, 1994
- Author:
CopyrightCOPYRIGHT 1994 Access Intelligence, LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Although the underwriters of new securities issues have witnessed a significant decline in fees in 1994, there is still plenty of capital available to companies looking to expand. Cash flows at chemical companies are improving with the economic cycle, and banks have become eager to lend. Restructured companies are seeking sales growth and looking to strategic acquisitions, financed with low-cost capital, to add to their revenue streams. "Everyone's looking for top-line growth, but everyone realizes it's very difficult," says Richard A. Derbes, managing director at Morgan Stanley (New York), who sees good plants available to buyers who want to build global market ...