Steve Davis Quoted on Slowing M&A Activity by Dallas Morning News
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The Dallas Morning News, for its article “Falling oil prices slowing mergers,” quoted Akin Gump energy partner Steve Davis on the slowdown in M&A activity due to the current decline in oil prices.
The article notes that oil prices dropped below $78 a barrel during the week of November 6, a four-year low. Davis said, “Anytime we have sharply rising or falling oil prices, we see this kind of pull back.” He added that investment bankers have also noticed that their “clients are pulling back properties” because they currently cannot get the asking prices they are seeking.
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