"Sullivan & Cromwell's Aquila on Mergers and Acquisitions" (Bloomberg TV)

September 22, 2009

Mr. Aquila was interviewed by Bloomberg TV’s Lori Rothman on the factors behind the recent increase in mergers and acquisitions activity. Mr. Aquila noted, "First of all, the recession is either over or bottoming out, and whenever you have a change in the market, you tend to see M&A activity. Secondly, a lot of companies cut early in the recession and therefore they have a lot of cash to spend. And the main thing is – for the last two years it's been difficult to do deals and so there's really a backlog [of transactions] ...and now is the opportunity to do it. [All of these reasons] are feeding what I think is going to be a significant uptick in M&A activity." Mr. Aquila also discussed the recovery from the credit crisis and how it is affecting mergers, noting that "good acquisitions will always find financing." He added that he believes all sectors will see an increase in deals – specifically financial services, energy and technology – and said that Brazil, Japan and Asia in general are regions to watch.