There is likely to be a large number of so-called "mergers of necessity" this year, according to PricewaterhouseCoopers.

According to Management-Issues, the accountancy firm believes tougher economic conditions in 2009 will make mergers more attractive.

Indeed, it claims companies experiencing financial problems are likely to be bought up by larger firms.

"The deal landscape will be dominated by distressed investments across sectors including financial services, automotive, consumer products and retail," said spokesman Robert Filek.

He said the survival of many "troubled" companies will depend on their ability to amalgamate with their stronger rivals.

This is likely to create what he describes as a "perfect storm" for mergers and acquisitions over the next year.

His comments come after Reuters reported that, according to a report by UBS and the Boston Consulting Group, 43% of senior managers and chief executives believe their will be a large number of "transformational" deals in 2009.