NEW YORK–Conditions are right for an increase in merger and acquisition activity, but the state-based system of regulation is helping to impede the number of deals taking place, according to an expert.
The observations came during Standard & Poor's "Insurance 2008 Conference: Operating Within a Global Economy," held here today.
Speaking as part of a broader panel, V.J. Dowling, managing partner, Dowling & Partners Securities LLC, noted that M&A activity has been slow, and he added that last year, even the $250 million-plus deals that did occur were not what he called "traditional deals" involving public companies. Instead, they involved mutual companies, foreign companies, and in one case, a hedge fund, he said.
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