Don't call it a comeback. Billion-dollar megadeals aside, the volume of mergers and acquisitions still drags. (For more, watch the video below.)

Global deal volume has risen 0.8 percent this year through Sept. 24, to $1.67 trillion. That's up from $1.66 trillion one year earlier, according to data from Thomson Reuters. However, once the $130 billion acquisition of Vodafone Group's (Nasdaq: VOD) U.S. wireless business by Verizon Communications Inc. (NYSE: VZ) is excluded, global deal volume drops 7 percent to $1.54 trillion.

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