In times of uncertainty, people retrench. They tend to re-trench because they're not sure exactly what the future holds. It's hard to justify buying a business with a lot of people and I'm firing a bunch of people. So that's one set of issues. Secondly, there is a finite number of strategic buyers who do big deals. Less than a dozen in one sector, much less. And so we don't need to talk about any specific names there.

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