August vacations for bankers aside, U.S. M&A activity stomped along in the third quarter and saw a return of the megamerger with the top four deals outstripping the largest deal of the second quarter. And a rejuvenated financial services sector, involving some of the oldest and most familiar names in the business, contributed greatly to the quarter’s volume. Through Sept. 27, announced activity rose 33% to $505.2 on 2,200 deals, compared to 2,752 deals worth $336 billion in the third quarter of last year, according to Thomson Financial Securities Data. Compared with the second quarter, activity was up 36%, from $324 billion on 2,055 deals.
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