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As we closed out 2009 and slid into 2010, a number of pundits, including many agency-brokerage executives and investment bankers-consultants, suggested 2010 would be an over-the-top, banner year for M&A activity. A few contrarians, myself included, suggested M&A activity would not roar back like gangbusters, but rather would take some time for the fundamentals to improve and momentum to return.

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