With more companies filing for bankruptcy, we can expect to see the stronger players making acquisitions. The downturn will unleash Pacman-style corporate activity.

PricewaterhouseCoopers has forecast big opportunities for companies buying troubled assets. We can expect to see massive consolidation in the financial services sector as it will be harder for small mid tier banks to go alone in this market. There will also be consolidation in consumer products, healthcare, technology and retail. "The deal landscape will be dominated by distressed investments across sectors including financial services, automotive, consumer products and retail, according to the Transaction Services group of PricewaterhouseCoopers. 'Troubled companies will look to align with larger, stronger players in order to survive, creating the perfect storm for mergers of necessity,'[ stated Robert Filek, a partner in PricewaterhouseCoopers' Transaction Services group.

We can also expect to see private equity make a big comeback as the downturn will provide the best buying opportunities.