Credit Crunch Hits Major Chemical Deals

The global credit crunch that emerged in August has slowed down chemical transactions for target companies valued at more than €500 million ($740 million), Rod Cantrill and Matthew Taylor, partners of M&A advisers Millington Advisory Partners (London), tell CW. The banks are exercising far greater caution in providing financing for major M&A deals in the sector, Cantrill says. The situation is far different from the first-half of the year, Taylor says. However, M&A deals in the sector below €500 million seem to be less affected by the credit...

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