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Havens Hasty From Kirsten Bischoff, Opalesque New York:
After merger & acquisition (M&A) activity slowed over the past few years, 2010 saw the beginnings of a revival of activity, and expectations for 2011 were to see continued growth. Indeed, M&A activity in 1H2011 could be described as healthy, but according to Nancy Havens-Hasty of New York-based, event driven firm Havens Partners, for investors focused on M&A the current opportunity set is terrific.
"Values are in a very good place to foster merger activity," Havens Hasty commented during an interview on Opalesque TV. She notes that cash levels on corporate balance sheets were at all time highs a few months ago, and the result is there are few options on cash investments now, which has driven up the activity in mergers. "A lot of the deals are cash deals, which is what you find at this stage in the market."
In addition to the M&A activity the firm has been able to participate in, Havens Partners is also balancing out some of the long risk in the portfolio with shorts and treasuries. "This is one of the best times to find and put on shorts, they are much less dangerous especially in a rising interest rate environment which we think will eventually happen."
Havens-Hasty, who launched her firm in January 1996 after lengthy experience in high yield and merger ...................... To view our full article Click here
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