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Some of the world’s top private equity firms are scooping up the debt of their own portfolio companies from banks at steep discounts as they seek juicy returns amid a lull in deal making.
The trades come as banks have stepped up efforts to offload billions of dollars of debt stuck on their balance sheets.
A survey of 17 merger arbitrage analysts, brokers and fund managers found that most were encouraged by a flurry of private equity deals.
From Bloomberg: The worst quarter in years for U.S. mergers and acquisitions just ended, but considering all the recent chaos, arbitrage traders insist it could've been worse. And that gives them hope for what comes next.
Employees are on the move at Akoya Biosciences, Milford Regional Medical Center, and MutualOne Bank, with new hires joining operations and promotions happening within organizations.