Since the onset of the credit crunch, private equity professionals have been
asking themselves whether the days of plenty are over. The so-called "mega
deals" are dead, transaction flow has halved and firms have had to overhaul
their strategies and target smaller deals as debt financing has dried up.
Yesterday, the largest deal so far of 2008 was agreed: it came in at just a
tenth of the size of the largest deal at this time last year. ...
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