Press Trust of India / New Delhi Feb 11, 2010, 17:10 IST
Mergers and acquisitions are set to witness a significant upturn in the country as the private businesses are planning to grow through inorganic route during the next three years, says a study.
According to the 'international business report' of the global consultancy firm Grant Thornton, 62 per cent of the businesses surveyed believe that the upturn has already started or will take place during the course of this year and 22 per cent of the privately held businesses (PHBs) plan to grow through acquisitions during the next three years.
"The PHBs are showing the real signs of optimism both in their belief that the upturn has already started or is about to do so, and in their confidence that traditional routes of trade and financial buyers are once again open," Grant Thornton India partner for M&As Siddhartha Nigam said here today while releasing the report.
Nigam further said, "as many as 42 per cent of the the PHBs have also been showing a significant rise in appetite for cross-border acquisitions," while 26 per cent are planning to grow through acquisitions in the next three years, which however is a fall of 11 per cent from the last year figure.
Out of the total 26 per cent, as many as 84 per cent expect to grow through domestic acquisitions and only 28 per cent plan to go for cross-border acquisitions, it added.
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