While financial services (FS) deal activity has failed to live up to recovery predictions cast at the beginning of year, further industry-wide restructuring and investment for growth has resulted in a flow of mid-market deals. This is according to the latest ‘European Financial Services M&A Insight' report from PricewaterhouseCoopers LLP (PwC).
Although the overall value of European financial services M&A increased during the second quarter of 2010, activity remained at a lower level than the same period of 2009. The value of European FS M&A increased to €10.9bn in the second quarter of 2010, from €7.8bn in the first. Total deal values for the quarter were 46% lower than the €20.3bn recorded during the same period of 2009. However, mid-market activity appears to be on the up and consolidation and restructuring are set to gain pace.
Read more at...