When we look back on the year 2009, we'll remember it first, of course, for the dismal economic situation we currently find ourselves in. (And, by the way, we still don't know if we've completely hit bottom. One thing that is certain, however, is that we're now closer to 2010 than we are to 2008. Chronologically, at least, we're making progress.)
But we'll also remember 2009 as the Year of the Great Shakeout. Of course, the two are intertwined.
The prolonged economic slump has forced many firms to dust off the merger and acquisition playbook from the last downturn. This time around, we're seeing a lot more action, and we'll undoubtedly see more. For what it's worth, M&A activity typically picks up when the "acquirer" (assuming, of course, it has the cash), thinks the marketplace (the "acquiree") has finally hit bottom.
In just the last three months, we've seen a flurry of M&A activity beginning with the breakup of BearingPoint. In April, Deloitte announced it would acquired BearingPoint's North American Public Services Practice for $350 million.
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