The Return Of The Deal

What a week for M&A! September 8 saw world stocks rally on the back of a combination of G20 stimulus announcements and major news on the M&A front, with Kraft Foods proposing a GBP10.2bn (US$16.7bn) takeover of UK confectioner Cadbury and the announcement by Deutsche Telekom and France Telecom of a major new UK joint venture. Indeed, with figures from Thomson Reuters showing that M&A is up 5% compared to one year ago, it seems as if we are seeing not just the return of 'merger Monday' but a more general uptick in deal making, in line with CFW's view of a bottoming of M&A in H209.

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