Our Take: Bank Crisis to Fan Consolidation Flames

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US independents are better placed than in the past to withstand a potentially spreading banking crisis, but we see tighter — and more expensive — lending as yet another catalyst for consolidation longer term. Ultimately, scale ticks too many strategic boxes to ignore, even if the sector is more self-funding than ever.

Topics:
Macroeconomics , M&A, Equity and Debt Markets
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