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BtoB

Petsky Prunier sees mixed M&A market in third quarter

Published on .

New York—Mergers and acquisitions in the third quarter in the marketing, advertising and digital media industries totaled 168, with an estimated combined value of $11.1 billion, according to investment bank Petsky Prunier.

The number of transactions declined 29% compared with the third quarter of last year and 12% from the second quarter of this year. The dollar volume was up 30% compared with the third quarter of 2007 and up 68% from the second quarter of this year.

Petsky Prunier described the market in the marketing, advertising and digital media sector as “surprisingly resilient,” although the firm acknowledged that the market grew softer in September as the credit crisis intensified.

—Sean Callahan

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