Had an interesting chat this morning with an executive vice president from a very well-known A/E firm whose job it is to find possible acquisition targets and bring them to the president/CEO for the greenlight to close the deal. He says that while he has brought many deals to the table, his firm has not closed any deals in 2008.
One of the problems facing many possible buyers, as the EVP told me, is that buyers see firm valuations dropping and are waiting for them to hit the floor before making an offer. Meanwhile, sellers also see those valuations dropping and want to get out now before their potential sale price drops even further from the record highs of the past few years.
It's an interesting dilemma to be sure. How are you solving it? Let us know.
We're off to the spotlight event of the conference, the Marketing Communications Awards Gala, so it's unlikely there will be any more posts today, but be sure to check back frequently tomorrow.
Ed
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