M&A deals delayed
Sep. 16 - Lazard says the turbulence in the financial markets and the lack of available credit is causing investment banking deals to take longer.
Lazard's Mike Macakanja says the credit crisis is "causing deals to be stretched out because buyers are more cautious about doing their "due diligence" and that the "overall deal environment is more conservative." Macakanja, speaking at the 2008 Reuters Autos Summit in Detroit on Tuesday, says there are some international buyers from India and China eyeing deals but that even they are being "very cautious" with regard to the U.S. auto industry.
Ruben Ramirez reports.
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