Compared to the 1999-2001 period, relatively few electrical distributors were acquired over the past year. Three fundamental economic shifts during that same time period have exacerbated the depth and intensity of the decline in the valuation of companies, and have contributed to this slowdown in consolidation activity.
The bubble bursts
The first factor was the collapse of the dot-com bubble, which brought a bull market that lasted almost a decade to a screeching halt. This
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