Frank Aquila Discusses M&A Market with Fox BusinessOctober 4, 2012
On October 4, Mr. Aquila was a guest on Fox Business's "Markets Now" program. Mr. Aquila discussed the current state of the M&A market with Fox's Tracy Byrne. Mr. Aquila noted that M&A activity in 2012 has not been as strong as had been widely anticipated earlier in the year. He indicated that the diminished volume of U.S. acquisitions is despite attractive interest rates and significant cash reserves at many potential strategic buyers. Mr. Aquila said that the low activity levels are due in large part to a lack of confidence among corporate boards and managements. He discussed how this uncertainty has been precipitated by a broad range of economic concerns, including the sovereign debt crisis in Europe, a slowing economy in China and the looming fiscal cliff here in the United States. Mr. Aquila said that he hoped to see an uptick in M&A activity later this year or early in 2013.