ET has a piece on PE investments slowing down and deals taking more time to close.

The current global meltdown propelled by subprime concerns has left its mark on the Indian market too, which is also evident in the number of private equity deals slowing down.

Industry experts say unlike in the past when term sheets were signed in six-seven days, the duration has now increased to a month. Fund managers are taking a longer time to make up their minds on investments. They are also agonizing over what valuations ought to be. Some are even backing out of deals.

This bit, about players backing out after the termsheet is signed, is especially interesting. Can readers comment if there are more examples in the recent past?

For instance, Indivision, a part of the Future Group backed out of an impending deal with DishTV after signing the term sheet. Sources said, this was because valuations were driven down. Then, sources added, there is the case of General Atlantic Partners backing out of Essar Power, once again, after signing the term sheet.