9/23/2008

With the takeover of Merrill Lynch by Bank of America, the financial services sector has become the most active sector for mergers and acquisitions, according to data compiled by Bloomberg. Steven Alexopoulos, an analyst with JPMorgan Chase, told clients that regional banks will likely become "lunch" for larger financial institutions. "We are seeing deals that are highly opportunistic and speedily arranged, where targets are distressed," said Marco Boschetti, co-head of global mergers and acquisitions at the London consulting firm Towers Perrin.

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