| Due to the lingering share price weakness and overall
stock market fragility, many investors have simply "walked away." As a
result, this "buyers' boycott" has accentuated growing market volatility but,
more importantly, has precipitated exceptional longer-term buying opportunities
and numerous mergers and acquisitions. Recent examples include the
mega-takeover offers for Inco, Falconbridge and Kerr McGee. This trend, we
believe, highlights the growing importance of mergers and acquisitions and will
undoubtedly lead to many more opportunistic corporate takeovers. |
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