Metals Update: Third Quarter 2009Deloitte Corporate Finance LLC |
This quarter’s Metals Update, produced by Deloitte Corporate Finance LLC (DCF), summarizes the most recent transactions along with information on the most active buyers, current transaction valuation multiples and an overview of the public market’s perception of the industry.
This quarter’s highlights include:
- Metals sector growth rebounded in Q3 2009, as indicated by the Purchasing Managers Index (PMI) in August and September, which increased to 52.9 and 52.6 in the respective months.
- M&A activity remained weak through Q3, with 111 deals completed, a 21% decline when compared to Q3 2008. Concurrently, average deal value plummeted approximately 78% in Q3 2009 when compare to Q3 2008.
- Through Q3 2009, companies with strong cash positions remain proactive, but are generally struggling to find quality M&A opportunities in the market. A viable recovery coupled with metals price stability will likely drive higher M&A volumes in the sector in the near future.
Download the Metals Update below.
Metals Update
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