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Paul G. Parker, managing director, chairman and head of global M&A at Barclays Capital, gave the keynote address at The Deal's M&A Outlook 2009 conference Tuesday morning. "We're at an inflection point. The aftershocks will continue to be felt from the hits we've already taken and probably
"Nonessential M&A has been frozen," he continued. "People are focusing only on what they need to do. It's very difficult to determine what valuations are in the market turmoil. This is a market that can go deep and forward or go backwards -- it's still unsure which way it'll go." Among the factors that could be tipping points Parker mentioned:
Even in the midst of the current turmoil, Parker sees some positive signs. "This is a very broad-based market, which is a very good sign for M&A activity going forward," he said. "There's "The premuim being paid in transactions also continues to be fairly high," he continued. "Today we're seeing depressed values, so the premium is going higher. Sellers haven't adjusted their expectations, but the buyers have. So those deals that do get done are getting a premium." - George White See all M&A Outlook 2009 posts
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Although he conceded that many believe this is the worst market we have ever seen, Parker predicts $2 trillion to $2.5 trillion in M&A activity next year. 
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