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Asbestos bill may spur new M&A activity
Arindam Nag -- Thu May 29, 2003 02:22 PM ET -- Reuters
A bill now before U.S. Congress could open the door to a string of new deals among companies once under a cloud of asbestos litigation uncertainty, reports Reuters. The bill, introduced last week by Republican Senator Orrin Hatch, aims to set up a $108 billion fund to compensate victims of exposure asbestos. If approved, the bill would help identify with a greater degree of accuracy the extent of liabilities they face from claimants. It would also arm them with enough guidance to craft a mutually acceptable payment pattern.