May 1 - DealBook blog (N.Y. Times) - Everyone knows that the pace of mergers has slowed down dramatically since the onset of the credit squeeze. With a few notable exceptions here and there, mega-deals in particular seem to have disappeared.
But what about the middle market, where the majority of transactions take place? Many believed that, especially for private equity firms, that landscape would be shaken up a bit — but not by nearly as much as that for big deals. According to data from Robert W. Baird & Company, a middle-market investment bank, that’s only somewhat true.
In March, there were a total of 211 announced middle-market deals, defined by Baird as those valued under $1 billion. That’s a 36.1 percent drop from March 2007, and 35 percent below the average for each of the last 12 months. Read More.
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