Mergers and acquisitions activity in the defence sector spluttered in 2008 and is likely to remain subdued in 2009 as buyers remain on the sidelines, as Guy Anderson and Keri Wagstaff-Smith report. Mergers and acquisitions (M&A) activity in the defence and aerospace sectors came under pressure in 2008 as the private equity-backed activity that had been a feature of previous years became virtually extinct. Jane's provisional figures indicate that the combined disclosed value of deal activity reached USD18.9 billion during the year: down from USD28.8 billion and USD28.6 billion in 2007 and 2006 respectively. The volume of disclosed deals also slipped slightly: a total of 128 transactions were tracked (compared to 188 the previous year).
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