The worst is over for German mergers and acquisitions activity, according to Lutz Raettig, chairman of the management board of Morgan Stanley in Germany.
In an article in Finanzplatz, the German capital markets newsletter, Raettig said: "the market appears to have weathered the worst...the lion's shares of the deflation of company valuations appears to have been overcome". He also said that while there was more work to do in M&A, there was less money to be earned doing it.
