We're going to see the same thing happen in technology and telecom. Balance sheet constraints and problems are going to drive a lot of consolidation.

Who knows where it's going to be when the deal closes.

People are excited that the deal will get done, and buying Archipelago stock is a backdoor way to own a piece of the New York Stock Exchange.

The prices are better on the small deals because they are off the radar screens of the large pools of capital.

You're always happy in a competitive bidding situation. And I don't think it's over yet.

The honeymoon is over. Boston Scientific won the deal, and now the work begins.

We're beginning to see greater levels of mergers as the economy improves and as executives that have been reticent get more comfortable with their own business.

Merger deal flow is going to reflect an economic recovery and stock market recovery. They go hand in hand.

I'm surprised the spread is not larger, given the size of the deal and potential regulatory issues.