Think 2002 was a dismal year for M&A? It’s really a matter of perspective, and it is possible to be somewhat upbeat, pointed out one managing director. Greg Benning, head of M&A for Adams, Harkness & Hill, a Boston-based investment bank that focuses on the middle market, said the 2002 M&A market did not have a low level of M&A on a historical basis, just compared to the ultra-robust years of 1999 and 2000.

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