Renewed merger activity provides greater choice

Acceleration in the flow of merger deals over the last two quarters heralds better times and returns for merger arbitrage funds in the event driven area, according to Dorothy Dewitt from GAM.

DeWitt, who runs a fund of funds at GAM, says corporate managers are doing such deals more selectively than in 1999 and 2000, when companies grew by acquisition 'simply for the sake of it.' The recent rise in equity markets and opening up of credit markets has also expanded the payment options of firms

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