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Auto Woes Constraining Chemical Industry, M&A Volume Down: Report
1:51 PM MDT | May 14, 2009 | Vincent Valk
Continued turmoil in the automotive industry is having significant downstream effects in chemicals, according to a PriceWaterhouseCoopers (PwC; New York) report on chemicals M&A in the first quarter. Deal activity is down 7% from the year-ago period, with 143 announced deals for the quarter. Volumes for disclosed deals worth more than $50 million declined 55% from the year-ago period, with only nine such deals occurring in the quarter. High levels of exposure to the automobile industry, which is suffering from sagging volumes and, in the case of GM and...
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