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REGENT’s view of the month - November 2009

The past three months have seen a very consistent number of TMT M&A transactions in Europe - 218 deals each month. However we are witnessing a ramp up in the size of deals which started in April 09 and has continued through November. This resulted in a combined value of TMT acquisitions last month of $14.4 billion. Valuation ratios have been consistently above the lows of mid 2009 over the last three months although TechMARK ratios have been edging down.

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