European Opportunities Trust plc (LSE:EOT) is looking for acquisitions. The company said, "There is no 'style drift'. Our investments, overall, have strong cashflows and relatively low debt.

This is important not just for companies to survive the rigours of a recession but because it will be easier with a strong balance sheet to take advantage of acquisition opportunities; notwithstanding this severe and deteriorating economic backdrop, it is vital that we continue to seek and identify special companies that can capture exceptional opportunities. A solely defensive mindset will not capitalise on the great opportunities which undoubtedly exist".