Oil & gas sector gearing up for more M&A deals
Deals delayed by uncertainty over oil price outlook, coupled with increased confidence in the global economy, are setting the stage for increased activity: EY survey
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AFTER a fairly quiet start to 2015, a majority of oil and gas companies are gearing up for more merger and acquisition (M&A) deals in the later half of the year, with an increased focus on middle-market transactions, based on a survey conducted by Ernst & Young (EY).
Of the 112 global executives surveyed in EY's 12th biannual Oil & Gas Capital Confidence Barometer, 60 per cent of the respondents expect to complete at least two M&A deals this year, while 56 per cent of the executives expect to actively pursue acquisitions - more than double the figures (25 per cent) recorded in the October 2014 survey.
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