There’s a bit of fear creeping into the world of M&A, with sell-side bankers all of a sudden fretting over funding packages, earnings forecasts and bemoaning the tough conditions for agreeing deals.
Perhaps it’s just the end of the year, but it feels to us like the penny’s finally dropped inside bankers’ heads that the golden run is over.
Auctions all of a sudden have rubbery bid dates, funding banks are pushing back and bidders are dropping like flies.
So it looks likely the next six weeks will be tough for anyone trying to get a sale over the line, and it will be interesting to see how things are early next year.
In Street Talk tonight, we’ve found a few new potential deals.
Shoemaker and retailer Aquila is talking to potential acquirers for the first time in six years, with its private equity backer keen to test buyer appetite and potentially find its exit.
Corporate carve out-hungry Australian private equity firms have stepped up their chase at windows and doors maker Jeld-Wen Australia, with indicative bids due to auctioneer Macquarie Capital next week.
Now that the spring cleaning’s out of the way at Archer Capital’s illion, it seems only a matter of time before suitors will be taking another look at the company’s core credit reporting business.
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