The financial services industry experienced one of its slowest M&A markets in 2009, and strategic buyers dominated what little activity there was by taking advantage of distressed deals (mainly acquisitions of assets from FDIC receiverships and distressed loan portfolios) to gain market share, expand their geographic footprint,to build their portfolios and acquire strategic assets.
As the economy improves, there are reasons to be optimistic about M&A activity in the financial services sector. A recent report issued by PricewaterhouseCoopers (“PWC”) predicts an improved M&A market in 2010 with a more balanced mix of distressed and non-distressed deals and strategic and financial buyers.
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