Global firms look to buy during crisis

More than a third of multinational companies are considering using the global recession as an opportunity to make strategic acquisitions, according to an Ernst & Young LLP report released yesterday.

About 53 percent of European companies with international units are actively considering selling non-essential or non-performing businesses, while 40 percent of global companies are mulling similar plans, Ernst & Young said in the report, citing a survey of 350 multinational companies.

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