Mutual funds specializing in mergers and acquisitions are soaring on a windfall of recent corporate takeovers and buyouts amounting to more than $6 billion of transactions between the beginning of this year and Nov. 9, BusinessWeek Online reports.

Merger and acquisition activity has already racked up 6,891 transactions this year and outpaced the $538.1 billion generated last year and $433.5 billion in 2002. K-Mart’s recent $11.5 billion bid for Sears helped cement a strong year in the mergers and acquisitions market.

Fund managers like Regina Pitaro, who steers merger and acquisition portfolios at Gabelli Asset Management, called the current merger and activity climate nothing less than a fertile field for her investors.

The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.

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