Aviation Week Publishes Grundman Opinion, “A Map of Aerospace Mergers and Acquisitions”
Writing in the Up Front column of Aviation Week & Space Technology, Steve Grundman discusses his observations about the trends of M&A over the past six years that are prompted by a new “map” of transactions that Grundman Advisory is today publishing. Viewing the map, Grundman calls out the story lines of corporate development that stand out: Deals given impetus by the historic growth in orders and deliveries of large commercial airliners that accompanied recovery from the financial crisis; spin-outs and divestitures reflecting a downdraft of Pentagon spending; and the ironic paucity of big deals by the largest of the industry’s established firms. On the other hand, Grundman concludes, “for all that it may illuminate about how our industry has employed M&A to adapt to change, the Map reveals little about where these story lines may lead beyond the next inflection.”
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