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The resurrection of M&A

On 27 October, 2003, the US M&A market received a much-needed jolt of adrenaline. On that Monday morning, Bank of America announced that it was to purchase FleetBoston Financial for $47bn (£25.6bn).

The deal kicked off a wave of M&A activity, the likes of which had not been seen for years. Slowly, a chorus of whispers started to spread through New York claiming that maybe, just maybe, the M&A market was set for a comeback.

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