According to a recent M+M Plant Retail report, 2003 can be described as a cautious year in terms of merger and acquisition activity, with little in the way of bold strategic moves but plenty of opportunistic exploitation of other businesses' weaknesses and retreats, most notably Ahold's pruning of its international operations. Both the total retail sales value of the identified transactions during the year, as well as the number of stores involved, declined compared to 2002. In regional terms, North America and Europe saw the greatest levels of corporate activity ― each accounting for 37 percent of the total number of deals ― with the next busiest region being Asia with 19 percent of transactions.
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