More On Illusory Corporate Cash And The Deloitte Report

A report by Deloitte, reported by FT, says that just 32% of the constituent companies of the S&P Global 1200 index held 82% of the aggregate gross cash pile of an estimated $2.8T.

“The pile of unspent corporate cash that has built up since the start of the financial crisis is being held by an increasingly concentrated pool of companies that will be crucial to hopes of a pick-up in business investment to stimulate the world economy,” says the FT article.

Capex or dealmaking?

The report quotes Iain Macmillan, Deloitte head of M&A, to say that “looking...