Flat is the New Up

In this year's slow but sure economic recovery, the average profit for merger and acquisition deals is a big fat zero. But that flat line is a welcome sight when compared to the slower relative recoveries of the last two recessions.

As to why these deals aren't yet posting profits, this New York Times article explains:

"The trouble is that even though the United States economy has stopped contracting, big risks still weigh on the animal spirits of executives. Job growth is anemic and credit markets have had renewed volatility in the wake of Europe’s sovereign debt crisis. Such market turmoil may have played a role in scuttling Prudential’s bid for the American International Group’s Asian insurance business, and a $15 billion leveraged buyout of Fidelity National Information Services."