华尔街黄金9月终结迎来寒流

2014-10-23 15:57:19来源：网络

　　Wall Street's big year of deal-making may haveended early — after peaking on the morning of Sept. 19.

　　在9月19日上午达到巅峰之后，华尔街在撮合交易方面斩获颇丰的一年或许已经提早结束了。

　　It was then that the Chinese e-commerce giantAlibaba went public with a valuation of more than$168 billion. Eight minutes later, the Standard& Poor's 500-stock index hit an all-time high.Earlier that week, several big acquisitions wereannounced.

　　那一天，中国电子商务巨头阿里巴巴(Alibaba)上市，其市值超过1680亿美元(约合1万亿元人民币)。八分钟后，标准普尔500指数(Standard & Poor's 500)创下历史新高。在同一周的早些时候，华尔街还宣布了另外几项重大并购。

　　Now, less than a month later, September's exuberance feels like a distant memory.

　　如今，过了不到一个月的时间，9月的繁盛景象仿佛已经成了遥远的回忆。

　　The S.&P. 500 has fallen more than 7 percent. Alibaba still trades above its offer price, butother initial public offerings have been shelved for now. Merger and acquisitionannouncements have slowed.

　　标普500指数下挫超过7%。阿里巴巴的股价仍然高于发行价，但其他企业首次公开募股(IPO)的计划目前已被搁置。并购交易的宣布也不再那么频繁。

　　"If we get a lot more volatility and there's a significant correction, there's a real risk thatdeals could get pulled," said Mark G. Shafir, co-head of global mergers and acquisitions atCitigroup.

　　花旗集团(Citigroup)全球并购业务联席主管马克·G·沙菲尔 (Mark G. Shafir)说，“如果出现了幅度大得多的波动，之后又有显著的调整，那么的确会有交易受到抑制的切实风险。”

　　All year, the stock markets have advanced, initial public offerings have boomed, and mergersand acquisitions have roared back to their highest levels since the financial crisis.

　　在这一年中，股市行情不断上涨，IPO活跃，并购交易回升至金融危机以来的最高水平。

　　The more than $1.3 trillion in announced mergers and acquisitions so far this year in theUnited States is the highest amount on record, according to Dealogic, fueled by megadeals likeComcast's $45 billion purchase of Time Warner Cable and Medtronic's $43 billion deal forCovidien. The more than $81 billion in I.P.O.s is the most since 2000, the height of the dot-comboom, led by the Alibaba offering.

　　Dealogic数据显示，今年到目前为止，在多宗重大并购交易的推动下，美国的并购交易金额超过了1.3万亿美元，达到历史最高水平。例如，康卡斯特(Comcast)出资450亿美元收购时代华纳有线电视公司(TimeWarner Cable)，美敦力(Medtronic)出资430亿美元收购柯惠医疗(Covidien)。在阿里巴巴上市的拉动下，IPO交易总值超过810亿美元，成了网络股最为繁荣的2000年以来，规模最大的一年。

　　In a few short days, however, much of that optimism has evaporated. Bankers across WallStreet say that deals on the verge of being announced are suddenly delayed. I.P.O.s set forthis week and next are postponed indefinitely. And the confidence that had fueled recordlevels of deal-making is nowhere to be found.

　　但在短短几天后，这种乐观情绪在很大程度上就消失了。华尔街的银行从业者表示，那些即将宣布的交易突然被推迟。原定于本周或下周进行的IPO都被无限期推迟。那种促成创纪录交易的信心也已经不见了。

　　"When you're buying and selling companies, you need stability in the markets," said MichaelCarr, head of Americas M.&A. for Goldman Sachs. "It doesn't take much for stocks to getout of alignment, and that's what is going on right now."

　　“你在购买和出售公司的时候，需要市场保持稳定，”高盛(Goldman Sachs)美洲并购业务主管迈克尔·卡尔(Michael Carr)说。“股市很容易出现波动，现在就是这种情况。”

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