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Deals Are Being Dropped as Buyers Turn Wary During the Pandemic

September 11, 2020, The Wall Street Journal

Chris DeCresce spoke with The Wall Street Journal about the decision some businesses are making to back out of M&A transactions during the COVID-19 pandemic. Mr. DeCresce says in some sectors, for example financial services, buyers’ ability to scrutinize the books might be limited, as the CARES Act providing economic support during the pandemic permits companies to defer certain items on their balance sheet.

“It is difficult to gauge the quality of assets. There is a lot of uncertainty as to what exists on the balance sheet of acquisition targets,” he adds.

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