M&A Loans Looking Up

Burns, Mairin
June 2003
Investment Dealers' Digest;6/16/2003, Vol. 69 Issue 24, p13
Trade Publication
While the high-yield and leveraged-loan markets are enjoying a renaissance of the kind last seen in the late 1990s, investment-grade loans still languish at the bottom of most banks' to-do lists. But a sudden flurry of activity has led some to herald a boom not only in this sector, but also in the equally beleaguered sub-sector of mergers and acquisitions. Two more acquisition-related deals were announced last week, one backing General Dynamics Corp.'s bid for fellow defense contractor Veridian Corp., the other funding Pilgrim's Pride Corp.'s takeover of ConAgra Foods Inc.'s chicken division. Even the loan market's greatest optimists are skeptical when it comes to the technology M&A boom that some soothsayers predicted in the wake of Oracle Corp.'s $16-a-share hostile bid for PeopleSoft Inc.


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