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By Richard Milne and Anousha Sakoui
Published: May 22 2011 19:35 | Last updated: May 22 2011 19:35
Feike Sijbesma has a dilemma. But "“ in common with many chief executives today "“ it is a pleasant one. DSM, the Dutch life sciences group he runs, has at least â?¬2bn ($2.8bn) of cash on its balance sheet. "We are sitting on cash "“ and cash we need to spend," he says. "The market isn't pressuring us but we need to act in a certain time frame, yes. We want to do acquisitions."
It is a remarkable scene being played out in boardrooms around the world. Less than three years on from the dark days of the financial crisis, companies are sitting on a bulging war chest of several thousand billion dollars of cash, according to calculations by financial analysts. What they do with that cash has even become elevated to a presidential matter, with Barack Obama urging US business in February to "get in the game" and spend some of the $1,900bn sitting idly on balance sheets.
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