According to data collected by Ernst & Young, there has been a consistent trend throughout global M&A over the past three years associated with declining deal conversion rates and a longer average time to completion. Although these trends do not seem favorable, they may be attributed to an increase in pending bids caused by a more optimistic lending environment. Since September 2010, there have been 82 transactions under $1 billion in the transportation & logistics (“T&L”) industry within North America, totaling almost $6.5 billion in aggregate value.
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