Corporate deals will evolve from stock-for-stock structures in early 2009 to more leveraged deals later in the year. But we won't see the same highly leveraged transactions that drove dealmaking in prior years. That's according to Jim Kuster, head of the telecommunications, media and technology group for RBS Greenwich Capital, who I caught up with recently at The Deal's M&A Outlook 2009 conference. Kuster said we will see more software and telecom deals, but media across the board from newspapers to radio to consumer magazines is in "workout mode."
In the broader market, Kuster predicts we'll see deals in 2009 in the $1 billion to $5 billion range and in the middle market. -
Suzanne Stevens
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