Goldman Sachs expects ongoing increases in M&A activity over the next 12 months due to low European financing costs, strong balance sheets, increasing corporate confidence in EU macro outlook.
- Low, in some places negative, inflation outlook may encourage an increase in in-market consolidation deals, as cos look to secure pricing power: Goldman
- Weak euro should also increase the appeal of European assets to foreign buyers: Goldman
- Lists stocks across European coverage with M&A probability of over 30%; excludes banks, mining & pharma:
- Meggitt, MTU Aero, Actelion, Innate Pharma, Alent, Croda, Elementis, Victrex, Lindt & Sprungli, Nutreco, PZ Cussons, Reckitt, Remy, SABMiller, Swedish Match, Nexans, Oxford Instruments, Spectris, ITV, Smith & Nephew, Tullow Oil, Africa Oil, Det Norske, DNO, Dragon Oil, Genel Energy, Gulf Keystone, Lundin, Fugro, Shaftesbury, Burberry, Ocado, Mobileye, Monitise, Liberty Global, Mobistar, TalkTalk, Tele2, Telenet, FirstGroup, Paddy Power, Restaurant Group, Whitbread, Pennon, Vestas Wind