Investors Looking for Continuing Deal Flow, Tim Evnin Tells the Wall Street Journal

August 17, 2010

New mergers and acquisitions can help assuage market concerns, said Evercore Wealth Management partner and equity portfolio manager Tim Evnin in an interview with the Wall Street Journal.

"It's very positive for sentiment," said Tim Evnin, equity portfolio manager at Evercore Wealth Management. "One of the things that has been disappointing is managements noting caution about the environment; big deals like this, to some extent, dispel some of that cautionary note."

Shares in Potash Corp. of Saskatchewan jumped 28% on the day after the potash producer rejected a $38.56 billion takeover bid from U.K. mining giant BHP Billiton but left the door open to other others while shares Pactiv gained 5.4%, after the maker of Hefty trash bags agreed to be acquired by Reynolds Group Holdings, a unit of New Zealand's Rank Group, for about $4.6 billion, excluding debt.