Big Banks Profit As M&A Activity Shifts Into High Gear: Bank of A
The acquisition of H.J. Heinz Company (NYSE:HNZ) by Berkshire Hathaway Inc. (NYSE:BRK.A) hasn't only hogged headlines over the past week. It has also showcased the slow-but-sure resurgence of the mergers and acquisitions business, which had gone from a full-on gallop to something more like a stroll since the financial crisis.
So far, 2013 is a winner The M&A business, once the bread and butter of U.S. investment banks, went into hibernation mode around 2008 and has only recently begun to show signs of life. And lively it is. According to Bloomberg, $94 billion in deals have come to light just this month, including the bid to take computer giant Dell Inc. (NASDAQ:DELL) private.
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