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Leveling the Playing Field |
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For the past 10 years, private equity firms have played a leading role in virtually every sector of American business, particularly mergers and acquisitions. But the subprime mortgage meltdown, skyrocketing energy and food prices, and the decline of the U.S. dollar are eroding PE’s position as a mainstay.
Because financial buyers are now unable to offer their usual generous multiples, strategic buyers can once again compete in the M&A marketplace. These firms can support a higher purchase price because they can generate extra income from implementing their operational expertise, cross-selling complementary
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