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Article: Mergers & acquisitions report: March 2009.(INVESTMENTS & FINANCE)
- Article from:
- Los Angeles Business Journal
- Article date:
- April 27, 2009
- Author:
CopyrightCOPYRIGHT 2009 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Los Angeles mergers and acquisitions market in March continued a months-long slide amid an economic recession that shows few signs of abating. For the fourth consecutive month, the volume of local M&A transactions hit a new low in March with just 40 announced deals. Previously, there had never been fewer than 43 deals in a single month since the Business Journal began tracking M&A activity in July 2005. March also saw the fourth lowest total announced value on record at just $1.29 billion. The only transaction to crack the half-billion dollar mark was Cisco Systems' $590 million acquisition of Pure Digital Technologies, a portfolio company of several investors ...