It may feel like it, but M&A activity has not yet hit rock bottom and will not boomerang anytime soon, investment bankers and M&A laywers tell the WSJ.
The Journal asked heads of investment banks and M&A lawyers in New York if they foresaw any buying and selling of companies in the near future.
The answer was a resounding “no.”
They gave five reasons:
- Rising unemployment
- Poor consumer and CEO confidence
- Lack of private-equity deals
- The fact that many bankers and lawyers go on vacations in July and August.
- TARP lenders might postpone big deals until 2010, when their big bonuses are less likely to fall under the Federal spotlight.
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