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Article: STAR TRIBUNE QUARTERLY DEAL REPORT, 3RD QUARTER 2009; Mergers, acquisitions: Slow, with signs of life.(BUSINESS)
- Article from:
- Star Tribune (Minneapolis, MN)
- Article date:
- October 26, 2009
CopyrightCOPYRIGHT 2009 Star Tribune Co. 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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Byline: THOMAS LEE; STAFF WRITER
Call it the deal-less recovery.
Despite an uptick in stock offerings, investment banks with strong ties to Minnesota advised a paltry 29 mergers and acquisitions in the third quarter, only two more than the previous three months, according to the Star Tribune Quarterly Deals Report.
For the first nine months of 2009, local banks managed 86 M&A deals, down 52 percent from the same period a year ago. RBC Capital Markets, normally a prolific deal maker, reported no mergers and acquisitions in the quarter.
Minnesota's stagnation mirrors the nation's: 1,679 deals in the third quarter, two fewer than the ...