The evolution of the merger & acquisition market in Romania was below expectations last year, DLA Piper law firm says, also anticipating an intensification of such deals in the second half of 2011 if the Proprietatea Fund (FP) decides to sell companies in its portfolio, Mediafax informs. A survey conducted by the law firm suggests key-players on the lending market are waiting for the intensity of activity on the European market to grow compared to 2010. The value of mergers and acquisitions completed last year was of EUR 300 M, suffering a 71 per cent year-on-year decrease, according to data held by Capital Partners, a leading independent investment banking advisers In Romania. On the other hand, the DLA Piper survey also reveals the fact that the activity of financing acquisitions in Europe will grow in 2011. Financial sector players believe the most notable activity will be recorded on the market of medium-value transactions. Over a half of the respondents answered that most deals would not exceed GBP 150 M in value, whilst only 20 per cent expect the majority of the transactions to be above the GBP 200 M threshold. In what regards the structure of the transaction funds, the DLA Piper survey shows that the total financing as share in the composition of funds available for transactions of this kind will grow.