Corporate acquisitions are still too pricey despite the financial crisis as valuations in many industries fail to reflect the new reality, the head of one of the largest US industrial groups.
Dave Cote, Honeywell chief executive, said the US conglomerate was looking for deals but thought the market was still overheated.
“It is a very easy time to overpay right now because you have to remind everybody that it's not last year anymore, it is this year,” he told the Financial Times in a video interview.
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