Barclays’s Parker Says EU Markets May Open After Deal
European markets may open up after government leaders agreed on a plan to alleviate the sovereign debt crisis, said Paul Parker, head of global mergers and acquisitions at Barclays Capital Inc.
The size of the pact will provide “stability and confidence for dealmaking to come back,” and give markets more time to handle systemic deleveraging, he told Margaret Brennan on Bloomberg TV’s “InBusiness.” A revival of the high-yield debt market will spur leveraged buyouts, he said.
European Union leaders boosted their rescue fund’s capacity to 1 trillion euros ($1.4 trillion) and carved out an aid package for Greece at a summit in Brussels this week.
Parker, 48, joined Barclays when it bought the North American operations of Lehman Brothers Holdings Inc. (LEHMQ) after the U.S. bank’s collapse in 2008. Barclays ranks sixth in the global M&A league table so far this year, according to Bloomberg data, advising on 121 deals valued at $273 billion.
“There’s a large pent-up demand for LBO’s” on the buy side, Parker said, as well as investor demand for high-yield bonds.
The patent market is also seeing movement, Parker said. Technology companies such as Google Inc. (GOOG) and Apple Inc. (AAPL) have pursued patent acquisitions as they vie with rivals in the smartphone industry.
To contact the reporter on this story: Chris V. Nicholson in London at firstname.lastname@example.org
To contact the editor responsible for this story: Jennifer Sondag at email@example.com