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The M&A outlook.

July 27, 2010 12:28 PM By Citi

In a recent appearance on CNBC's The Strategy Session, Mark Shafir, Citi's global head of M&A, assessed the outlook for deals as flat in the near term, with an uptick -- potentially quick -- in 2011 and 2012. Companies holding record amounts of cash and valuation multiples at their lowest levels in 15 years, excluding 2008, are among the factors pointing to a rebound in M&A activity, he said.

Deal flow will increase as CEOs and boards gain conviction in their own businesses. "A number of them are starting to feel that way," Shafir told the audience. "They wanted to see this [financial reform] legislation, they want to understand it a little better and they want to understand what credit availability is going to be."

Check out the replay and summary of Shafir's appearance on CNBC.com.

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