The rebound in mergers and acquisitions has continued for a third consecutive quarter, according to new research, and the momentum looks set to continue with M&A bankers enjoying their busiest start to a year in a decade.

Global activity was up 12% in the fourth quarter of 2009 compared to the previous three-month period, according to virtual data room company Intralinks. This followed 10% jumps in both the second and third quarters of the year.