Europe’s M&A wave won’t create 2008 re-run, says HY specialist

The M&A trend among European corporates is a sign of confidence in the region rather than an indication of re-leveraging, T. Rowe Price’s Michael Della Vedova tells Citywire Global. The AA-rated manager explains prudent management since the 2008 crisis has led to significantly improved cash-to-debt ratios, with companies taking advantage of the lower cost of debt to finance deals.