Читать книгу Applied Mergers and Acquisitions - Robert F. Bruner - Страница 72

The popular hallmarks of this wave were larger deals involving more hostile takeovers, more leverage, and more going-private transactions than previous waves. However, the activity was very broad-based, touching virtually all sectors of the U.S. economy, and dominated by combinations among small and medium-sized firms. The Tax Reform Act of 1986 may have contributed to the boom in M&A activity as tax changes took effect. This wave featured the appearance of financial and international buyers as more significant players than ever before. The complexity of transactions increased in concert with growing capital market innovation and sophistication. This was a period of generally falling interest rates and rising stock prices.