TORONTO, Ont. –A new report by PricewaterhouseCoopers suggests transportation merger and acquisition activity has slowed drastically in the first quarter of 2009.
The report also shows the value of the average deal has plummeted from US$513 million in 2008 to US$159 million in the first quarter of 09. A total of 18 deals were announced during the first quarter down from 43 in the fourth quarter of 2008, according to the report.
Large deals, valued at more than US$1 billion were non-existent in the first quarter whereas 22 “large deals” took place in 2008 and 17 in 07. The report chalks this up to a “focus on capital preservation by potential buyers.”
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