A Major Structural Shift In Brazilian M&A

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New data from Dealogic shows that targeted Brazilian M&A has reached US$13.8bn in 2009, down a massive 70% from 2008 year to date's record level of $46.7bn. Indeed, thus far 2009 has seen just three deals valued at over US$1bn (notably BTG's US$2.5bn acquisition of UBS Pactual), compared to18 in the same period last year. However, this hasn't stopped a planned merger between local food sector players Sadia and Perdigao, a move which would create a firm (Brazil Foods) with nearly US$11bn in combined assets, one of the largest food processing companies in Latin America and a dominant player in