New research by global law firm Hogan Lovells has found that energy firms are more likely to conduct mergers and acquisitions (M&A) than companies in other sectors.
As part of a broader survey of business executives across six sectors, the research examined the views of 40 senior executives across oil and gas, traditional power and renewable energy companies.
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Almost 85% of the executives consider M&As to have delivered what they had hoped for in the past against three in four executives across other sectors.
Hogan Lovells corporate energy partner Steven Bryan said that the company’s research reveals that the energy sector will be a driver for the recovery of global M&A.
"Company executives are not only positive about M&A and its past success, but have real confidence about the outlook for the future and the role that M&A can play in driving future growth," Bryan added.
The research also found that respondents in the energy sector plan to devote more investment to product diversification than those from any of the other sectors. The executives expect future growth in the sector by investing in new geographic markets or in developing economies, and through making acquisitions in existing developed markets.
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By GlobalData
