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The Gusher Dries Up: Scarcer Money Means Less M&A Action in '08

New York, NY - (WWD) - The industry's heady mergers and acquisitions days have turned into a hangover.

Once the hottest game in town, the retail and apparel sector has seen leveraged buyouts dry up, thanks to the collapse of the subprime mortgage segment and the plunging stock market. And, while private equity firms still hold lots of cash, they're eyeing smaller investments of less than $250 million.