Distressed Debt: The Time Is Right

It is a well-known fact that the best time for M&A from an acquirer's perspective is just as companies start to exit the recession. Valuations are still cheap while an improving environment means that financing is more readily available for 'the right deals' from banks and more importantly from the bond markets. This timing issue also applies to distressed debt M&A. Recent research by the Cass Business School confirms that timing is the key to achieving a successful distressed acquisition, which generates high returns for shareholders. CFW examines the evidence on the relationship between timing and the success of a

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