Dealmakers saw a disappointing year in 2009, as global mergers and acquisition activity fell by 22 percent from the already depressed level in 2008. However, the fourth quarter provided hope that the M&A market may have hit bottom and that 2010 will see a recovery.

Globally, deal volume jumped by 15 percent in the fourth quarter of 2009 from the same period a year ago, and U.S. deal volume more than doubled from the fourth quarter of 2008 to the fourth quarter of 2009.