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Industrial Manufacturing Deal Activity Showed Improvement, Chemicals and Metals Segments Showed Mixed Results, in Third Quarter 2009, Finds PricewaterhouseCoopers.

Article Excerpt
Smaller Deals Continue to Define the Deal Landscape; PwC Looks at the Impact of Carbon Legislation in the United States and What it Could Mean for the Industrial Products Industry

NEW YORK, Nov. 10 /PRNewswire/ -- The pace of mergers and acquisitions (M&A) in the industrial manufacturing sector experienced increases in both deal volume and value during the third quarter of 2009 compared to the prior quarter, according to a series of quarterly M&A reports released today by PricewaterhouseCoopers LLP (PwC). The metals and chemicals sectors showed mixed results in Q3 as the chemicals sector experienced a decrease in deal volume while the metals sector showed an increase in deal volume but a decline in deal value. Deal value in the industrial manufacturing segment increased significantly by 272 percent in the third quarter of 2009.

Strategic buyers continued to act as the main investors in the majority of deals in all three segments of the industrial products industry as financial investors remained on the sidelines because of continued tight credit markets and a lack of liquidity. For the most part, average deal size decreased from last year's levels, as the number of large deals declined due to a combination of difficult economic and credit conditions and the need for companies to concentrate on their own operations. Smaller transactions are...

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