The 14th Global Conference Call on "Current Trends and Outlook for the M&A Markets" was held on 2 February 2010 at 15:00 CET.

Introduction
We all know what’s happened in the last year. Market volatility and credit uncertainty have resulted in a precipitous drop of M&A activity resulting in one of the worst years for M&A business in at least the last decade. The question for this call is: “where are we going in the coming year and where are the bright spots?”

M&A International has just released today our fourth quarter mid-market survey report entitled ‘M&A has returned as a key corporate development tool: active deal volumes on the rise’.  Our quarterly mid-market report Q4 2009 shows there will be a rebound in mid-market M&A activity in the near future in strong contrast to the negative sentiment of previous quarters. In fact our report indicates that following the decrease of transaction volume of more than 50% in the first quarter of 2009, closed transactions have successfully increased quarter by quarter since then. (audio file 01)

Download the “M&A International Inc. Quarterly Mid-Market Report Q4 2009” below.

Speakers
During this call, our panel of speakers elaborate on this trend and bring clarity to the key question of where we’re heading in 2010. 

• Mark Lerner, CEO, Morgen, Evan & Company, Japan and China Member of M&A International Inc.
• Julian Jessop, Chief International Economist at Capital Economics, the leading independent macroeconomics consultancy (www.capitaleconomics.com)
• Murray Beach, Managing Director, TM Capital, USA Member of M&A International Inc.
• Hans Bethge, Managing Partner of Angermann M&A International GmbH, German Member of M&A International Inc.

Audio files
Listen to the audio files of the call to hear our panelists’ comments on the questions below.

• What are your comments on the direction of the regional economies in Europe, the US and Asia?
  • Julian Jessop (audio file 02)
• It was announced on 29 January that the US economy grew at its fastest rate in six years during the fourth quarter of 2009, a 5.7% annualized growth rate of GDP with surging exports. Yesterday there was news of Obama’s $3.8 trillion budget with an all-time record high deficit of $1.6 trillion. Do you see any implications for these staggering numbers in the US and the impact on mergers & acquisitions going forward? And will this rapid economic growth in the fourth quarter of 2009 and the deficit spending fuel a surge in M&A in the US in the coming quarters? (audio file 03)
  • Murray Beach (audio file 04)
  • Julian Jessop (audio file 05)
• According to our M&A International Quarterly Report, the slow upturn in Western Europe has turned into a decline during the fourth quarter.  What are you seeing in general activity levels for mergers & acquisitions in the European market, and do you see an upturn ahead during the coming one or two quarters? (audio file 06)
  • Hans Bethge (audio file 06)
• We see significant contrasts in three regions: healthy markets in Asia, a slowing but cautiously optimistic Europe and modest growth in North America. Do you see a model or scenario where we will have such disparate trends continuing, or do you see the M&A market trends converging? And what will be the impact of these different economic scenarios on growing cross-border M&A transactions? (audio file 07)
  • Murray Beach (audio file 08)
• Where do you see the private equity markets heading in 2010, and do we see an increase in the number of M&A transactions being supported and acquired by private equity participants? (audio file 09)
  • Hans Bethge (audio file 09)
  • Murray Beach (audio file 10)
• Q&A (audio files 11 and 12)

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