M&A frenzy stokes 2020 US debt hopes
The US corporate bond market had no high grade new issues in the run-up to the Thanksgiving holiday but the return of big ticket mergers and acquisitions has raised bankers spirits for 2020.
While syndicate desks were bereft of deals, M&A took centre stage as French luxury brand LVMH Moët Hennessy Louis Vuitton announced it was acquiring Tiffany & Co for $135 a share in cash, valuing the US jewellery company at $16.2bn.Meanwhile, Swiss drugs company Novartis unveiled a $9.7bn all-cash purchase of US ...
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