Based on the number of recent M&A deals and other financial indicators, the global market is recovering—and it’s here to stay—Mark Shafir, head of global mergers and acquisitions at Citigroup, told CNBC Monday.
“The market is clearly recovering, volumes are about 25 percent year-over-year,” added Shafir. “We’re seeing a much bigger numbers, and we think in the mega-deals, $10 billion and north, it will be up close. On a run-rate basis, it’s running about 40 percent over.”
Citi's Shafir added: “When you just look at the trends—cash on the books, valuations where they are, the credit markets are screaming—it just makes a lot of sense in the real recovery.”