Investors in public companies have lost out in this golden age for risk-takers, says Lex, while others have seized the day. Debt is cheap and corporate America awash with cash but with an economic slowdown looming, now is not the time for CFOs to start apeing financial sponsors. But a Morgan Stanley survey finds that M&A is now ranked first when it comes to intended use of capital, up from seventh last year. Distressed at having given private equity its opening, the risk of a more aggressive stance from companies is rising.
via: Alphaville


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