It was the biggest deal that wasn't of 2010: Fidelity National was the target of an eye-catching $15 billion private equity-backed buyout attempt by Blackstone Group, Thomas H. Lee Partners and TPG Capital. The negotiations were leaked, as is usual, and the media quickly pronounced that big deals were once again possible. The industry was on the way back. But then the deal fell apart. Fidelity wanted more money, and the private equity (private equity news) firms balked.

But so great is the optimism in the industry these days that Fortune says the deal is still a sign that sponsored deals are on the rebound.  We've certainly seen more activity. In the first quarter, 123 private equity deals were announced compared with 76 in the first quarter last year. Deals this year include the $5.2 billion dollar TPG and CCP Investment Board takeover of IMS Health announced this past November, the $3.4 billion dollar Silver Lake and Warburg Pinkus takeover of Interactive Data Corporation. But will we see a deal worth $10 to $15 billion? That may have to wait until next year at least.

For more:
- here's the Fortune article

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