Global M&A activity off 33% in first quarter

03/27/2009 | Reuters

The announced volume of mergers and acquisitions dropped to its worst first quarter in six years, a 33% decline, according to data from Thomson Reuters. Activity has plummeted because of a "lack of confidence in valuations, and a lack of credit," said Ian Hart of Citigroup, an adviser to M&A players including Essent, Pfizer and Lloyds.

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