The value of global mergers and acquisitions (M&A) dropped more than a third during 2009's first quarter, research has found.
Figures released by analytical software specialist Dealogic found the global worth of M &A deals during the first quarter of 2009 was $524.9bn (£367bn), down 36 per cent on last year. The number of deals fell by the same amount and stood at 6,866.
Governments helped prop up the M&A market as they invested $145.8bn, almost 30 per cent of the total worth of deals. This was predominantly ploughed into stricken banks and insurance providers.
Finance was the top M&A sector, with a global worth of $130.9bn during quarter one. Healthcare was a close second, accounting for deals worth a total $127.9bn, including the US über-merger of Pfizer and Wyeth.
M&A advisory revenue fell off a massive 59 per cent during the quarter to $2.4bn. JP Morgan was the world's top adviser, with a hand in 70 deals worth $207bn. Morgan Stanley, Goldman Sachs, Citigroup and Bank of America/Merrill Lynch rounded out the top five.
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