The beginning of a strong, and quicker than expected, comeback from the capital markets bolstered U.S. mergers & acquisitions (M&A) activity in 2010, according to PwC US. Despite a surprising lack of opportunities in distressed acquisitions, trends emerging in the second half of 2010 – including increased corporate M&A activity (particularly in the middle market), the availability of attractive debt financing, and stronger valuations for corporate assets – helped strengthen the U.S. deal landscape. At a macro level, PwC believes the key conditions are in place for a resurgence in deal making in 2011.