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Fat cats could shop for sprats
Page 12
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THE ROAD haulage industry is ripe for a series of mergers and take-overs during the next six months, according to a report from industry analysts Plimsoll Publishing.
The company has identified 230 companies ripe for takeover in its latest report, and it reckons the current economic climate is driving the market toward a flurry of acquisition activity: "So far this year things have come to a standstill in terms of takeovers," says Plimsoll senior analyst David Pattison,"but it appears to be back on the agenda." The most notable acquisition of the year so far is Stiller Group's capture of Barnsley-based Pete Osbourne Logistics for an undisclosed sum.
As well as the companies earmarked for takeover, Plimsoll has also identified 265 'fat' companies with cash to spend in the market. He says: "These companies have a cash pile beyond their business needs and they must put the cash to good use.
"It is doing nothing sat in their bank at the moment and the prospect of a cheap acquisition must be in their thinking."