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An important factor is a company's ability to finance growth internally.
That should make firms all the more determined to fund growth internally.
Mr. Useem predicted it would be achieving double-digit growth internally, without the benefit of huge deals or accounting sleight-of-hand.
E-Plus Mobifunk, another German telecom, may also be a potential buyer, if it is not able to generate as much growth internally by the end of the summer as it had planned, the London analyst said.
It means continuing to fuel growth internally from cash flow produced by the business.
He also says McNerney's aim to get 7% sales growth internally is "very ambitious twice as fast as the underlying markets they serve".
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It is simple to start a company using savings or angel seed funds and to finance subsequent growth through internally generated cash flow.
It's done a good job accelerating its sales growth both internally and through acquisitions.
Various modifications of the Köhler theory have been proposed to represent the hygroscopic growth of internally mixed particles.
The analyst predicted that in the near term, the company will focus on growth opportunities internally while continuing its strategy of growth by acquisitions.
Kohler cited a number of positives for the company including Valero's "sophisticated asset base," "superior geographic diversity," the company's focus of growth both internally and via acquisitions, management with an "outstanding track record of value creation via accretive acquisitions, high return capital projects and maintenance of a strong balance sheet".
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