Return of the big deal

摘要

Pfizeneca? Pubnicom? Holfarge? Finding a suitable name for a fusion of well-known brands is among the challenges of big takeovers. It is one that investment bankers are once again pondering: after years in the doldrums, big mergers and acquisitions (m&a) are making a comeback. Optimists hope this is a sign of bosses daring to be bold because of improving economic prospects. Sceptics wonder if the managers are in fact doing deals to conceal a worrying lack of growth opportuni-ties-or just cutting costs by merging with companies in kinder tax jurisdictions.