Anecdotal evidence suggests that strategic buyers are gaining ascendancy over their financial sponsor rivals in the M&A market. Take Maytag. After a long-running battle, it finally agreed to an acquisition by rival US appliance maker Whirlpool at the end of August for $1.7 billion, rejecting a competing bid from Triton Acquisition Holding, a group of investment companies led by New York-based Ripplewood Holdings.
It is clear, though, that strategic buyers are not taking market share away from the financial buyers that have been so active in so many high-profile deals this year.
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