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SME What Trends are Driving Equity Valuations and M&A Transactions. Todd Sibilla. Geopolitical Landscape. Consolidation based on Funding Geography of the Deals Who is leading MA and Why? Are Asset Sales going to continue? Protectionism @ State Level. Market Activity in 2013 .
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SMEWhat Trends are Driving Equity Valuations and M&A Transactions Todd Sibilla
Geopolitical Landscape • Consolidation based on Funding • Geography of the Deals • Who is leading MA and Why? • Are Asset Sales going to continue? • Protectionism @ State Level
Growth of Speculators • Dutch City of Vlissingen now rivals Detroit for Aluminum – STORAGE PLAY • Glencore subsidiary owns 40 0f 42 bins in Vlissingen and Goldman Sachs 29 of 37 Detroit • LME beginning to require base delivery levels from large warehouses…Netherlands is roughly half or Europe inventory