The deal environment remained challenging in 2009. The volume of global deals fell by 6.3 percent compared with 2008 and the dollar value of global deals fell by over 28 percent to US$1,894 billion over the same period.
It is no secret that the M&A market was negatively affected by several factors. In addition to a lack of financing options, acquirers and sellers were confronted with the problem of making realistic valuations in the face of rapidly declining revenues and uncertain consumer and business demand.