UK M&A volumes fell by more than 70% between Q1 2008 and Q1 2009 while European deal activity fell by 64% in the same period, according to Mergermarket statistics, making the first three months of this year the worst for corporate activity since 2003. Most City partners are predicting that M&A activity will continue to stagnate for the remainder of 2009, although some are now willing to admit that the bottom of the market is close. Allen & Overy (A&O) M&A partner Alan Paul said: "I am always optimistic and activity will come back, but not for the foreseeable future. We may well be at the bottom now, but we could be here for some time. The volume of traditional M&A work will not come back until bank behaviour returns to some sort of normality."
April 08, 2009 at 10:58 PM
1 minute read
The original version of this story was published on Legalweek
Deal numbers are down but City is hopeful that the market will rally
UK M&A volumes fell by more than 70% between Q1 2008 and Q1 2009 while European deal activity fell by 64% in the same period, according to Mergermarket statistics, making the first three months of this year the worst for corporate activity since 2003. 
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