I have written over the recent months about the over-heating present in the global (and especially N. American) M&A markets (see posts here, here and here) so it is only reasonable from continuity perspective to post some more data on the subject. Here it is :
Looking at the volumes of M&A deals since around the start of 2Q 2014 through today, one cannot escape a simple conclusion: absent organic growth in revenues, and with shares buy-backs now being discounted in the markets (belatedly awakening to the reality of unsustainable valuations in the equity markets), current levels of M&A (over at least 18-21 months period) are simply, certifiably, clearly bonkers.
No comments:
Post a Comment