Aquila Sees Rise in Global Mergers & Acquisitions Market (Bloomberg TV)November 6, 2009
Mr. Aquila was interviewed on Bloomberg TV about the outlook for mergers and acquisitions activity. "Clearly, confidence and consumer spending is going to be vital to any recovery here. I think what's important though is American companies cut very quickly last year – maybe they cut too quickly, maybe they cut too far – but they've amassed a lot of cash....Now that they have that cash buffer the credit markets are starting to open up," he said. Mr. Aquila noted that companies are thinking longer term, which will be a key driver in M&A activity. On the short-term future of M&A, he noted, "We're going to see deals of varying sizes…whether they be private equity or strategic deals…those deals are going to be transactions that make industrial logic and that have good cash flows." Mr. Aquila also said that cross-border M&A is increasing and that activity in emerging markets can be expected to rise, particularly in Asia and Latin America.