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Takeover business is picking up after hard landing

The life of an investment banker isn't much fun right now, given the state of the markets. Canadian dealmakers aren't able to get much done, with banks balking at lending anything more than a couple hundred million dollars, and boards reluctant to do much acquiring in turbulent markest. 

Still, there's hope. The second quarter showed a pickup from the truly becalmed first quarter, even though total volumes year to date are still down by a quarter, according to tracking firm mergermarket. Deals total $32.2-billion in the second quarter, up from $13.5-billion in the first quarter, the firm said, and the first couple days of the third quarter are off to a flying start, with more than $7-billion of deals announced this week alone.