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Article: M&A report--June 2007.(INVESTMENTS & FINANCE)
- Article from:
- Los Angeles Business Journal
- Article date:
- August 20, 2007
CopyrightCOPYRIGHT 2007 CBJ, L.P. 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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Local mergers and acquisitions held steady in June with 70 deals, up slightly from the previous month but appreciably fewer than a year ago--an indicator of how turmoil in the finance markets has begun to take its toll. June's figure is one more than in May, but 19 fewer than a year ago when the M&A activity had vet to be affected by the tightening of credit in the wake of the subprime mortgage industry collapse. Of the $12.6 billion in June deals whose values were released, the largest was Los Angeles-based Colony Capital LLC's $5.4 billion acquisition of energy companies Tamoil and Oilinvest from the Libyan government. Tamoil operates service stations and refineries in ...