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Metals Update: First Quarter 2012

Deloitte Corporate Finance LLC


This quarter’s Metals Update, produced by Deloitte Corporate Finance LLC (DCF), summarizes the most recent transactions within this industry along with information on the most active buyers, current transaction valuation multiples and an overview of the public market’s perception of the industry.

Highlights include:

  • First quarter 2012 metals M&A activity showed signs of significant improvement over Q1 2011.
  • Despite recent metal price volatility, notable M&A transactions were announced in Q1 2012, including Precision Castparts Corporation’s acquisition of RathGibson LLC and Outokumpu Oyj’s acquisition of the stainless business of ThyssenKrupp AG.
  • Consolidation pressures in areas like China are expected to be high, where economic slowdown and political conditions support larger players.  Conversely, M&A activity will be a focal point in areas with relatively high growth, such as the U.S., where increasing industrial output is expected to spur higher inherent valuations.

To read more, download the Metals Update.


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