Privately held businesses (PHBs) are naturally cautious about their merger and acquisition (M&A) plans for 2010 given the challenging economic conditions and difficulty in raising debt finance they experienced in 2009, but there are some encouraging signs for the future.
A substantial proportion of entrepreneurial firms still want to grow through M&A and this is likely to increase if optimism about a global economic recovery spreads and credit markets ease. Businesses with cash resources believe that the combination of a more stable global economy and comparatively low valuations is throwing up interesting acquisition opportunities.
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