The pace of deal-making dropped a whopping 37% last month according to Bloomberg. M&A has been a magic elixir for the stock market, but has it lost its fizzle?
Joining the guys to discuss mergers is Frank Aquila, an M&A lawyer and Partner at Sullivan and Cromwell. For the last three years running, Sullivan and Cromwel has been the top M&A firm in the world, with close to half-a trillion dollars in deals in 2006 alone.
Aquila says during any bull market investors will see a drop in M&A. He feels the statistic mentioned above doesn’t mean anything.
He adds that private equity buyers are pretty well disciplined. Money is abundant, says Aquila, and the spreads are not very high. He suggests that M&A won’t slow.
Eric Bolling and Pete Najarian agree.
Guy says the trade is Greenhill (GHL) and Lazard (LAZ).
Eric Bolling thinks it’s okay to buy Blackstone (BX).
Pete Najarian likes Goldman (GS) and Morgan Stanley (MS).
Jeff Macke agrees that the brokers are the way to play it.
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Trader disclosure: On July 2nd 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders
Macke Owns (DIS), Najarian Owns (CBH), (IMMR), (ZQK), (NOK); Bolling Owns (DIS), (T), Natural Gas, Corn; Vivendi Owns 20% Of NBC Universal, The Parent Company Of CNBC; CNBC Is A Service Of NBC Universal And Dow Jones