Feeding frenzy
13 September 2012
A series of acquisitions has fuelled speculation that a period of consolidation is upon us. Is this because of an imminent downturn, or does it point to a maturing market?
News of TMP’s acquisition of Melville Craig led to immediate speculation in the Scottish press that job cuts would follow. It was left to Craig Paterson, Melville Craig’s founder, to reiterate that, on the contrary, the group remained on course to grow its workforce by 50 during the rest of the year.
The reaction to the takeover appears symptomatic of a belief...