Sep. 29, 2009 (United Press International) -- A sudden increase in corporate mergers shows a new sense of confidence on Wall Street, bankers who make some big deals said.
"The psychology has changed. This is sign that things have stabilized," Boon Sim, head of mergers and acquisitions for the Americas at Credit Suisse told The New York Times.
In order to swing a multi-billion dollar acquisition it helps to feel your own company is on solid ground, said Ted Rouse, head of global mergers and acquisitions at Bain & Co.
"If you're healthy, it's a great time to acquire inexpensively," Rouse said, the Times reported Tuesday.
Among the two large mergers announced Monday, Xerox Corp. (NYSE:XRX) agreed to buy Affiliated Computer Services (NYSE:ACS) for $6.4 billion. Abbott Laboratories (NYSE:ABT) Monday said it would buy Solvay's prescription drug business for $6.4 billion.
"We're confident that our base business will rebound when the economy does -- and in Q2 (the second quarter) saw the right trends in this direction," said Xerox Chief Executive Officer Ursula Burns.
In recent weeks, Dell (NASDAQ:DELL) computers bought Perot Systems (NYSE:PER) for $3.9 billion. Kraft made a $16.7 billion bid for chocolate maker Cadbury, which was rebuffed.
