M&A Apoplexy — The Law Journal ‘s annual survey of large New Jersey mergers and acquisitions showed a plunge in value and number, as institutions that financed them were badly destabilized by the national mortgage crisis. After a two-year boom in corporate deals, the 30 largest transactions in 2008 had a value of $48.5 billion, compared with $89.9 billion in 2007 and $71.8 billion in 2006. The 2008 total fell nearly to the 2005 value of $43 billion. Only nine of the state’s top deals exceeded $1 billion each in value in 2008, compared with 20 deals in 2007. “In my days as a practicing lawyer, this is the worst market I’ve seen,” said corporate finance attorney Steven Skolnick .
February
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