SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* GABELLI MARIO J (Last) (First) (Middle) C/O GAMCO INVESTORS, INC ONE CORPORATE CENTER (Street) RYE NY 10580 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol Gabelli Global Deal Fund [ GDL.A ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 02/11/2009
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Preferred Shares	02/11/2009		P		103,337(1)	A	$50	103,337	I	By: GAMCO Investors, Inc.(2)
Preferred Shares	02/12/2009		P		140,000(3)	A	$50	140,000	I	By: Partnership(4)
Preferred Shares	02/11/2009		P		40,000(5)	A	$50	40,000	I	By: GGCP, Inc.(6)
Preferred Shares	02/12/2009		P		41,454(7)	A	$50	41,454	I	By: Limited Liability Co.(8)
Preferred Shares	02/11/2009		P		717(9)	A	$50	717	I	By: Subsidiary(10)
Preferred Shares	02/12/2009		P		310,491(11)	A	$50	310,491	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person* GABELLI MARIO J (Last) (First) (Middle) C/O GAMCO INVESTORS, INC ONE CORPORATE CENTER (Street) RYE NY 10580 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer X Director 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* GAMCO INVESTORS, INC. ET AL (Last) (First) (Middle) ONE CORPORATE CENTER (Street) RYE NY 10580 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director 10% Owner Officer (give title below) X Other (specify below) Owner of Adviser

1. Name and Address of Reporting Person* GGCP, INC. (Last) (First) (Middle) 140 GREENWICH AVENUE (Street) GREENWICH CT 06830 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director 10% Owner Officer (give title below) X Other (specify below) Majority shareholder of GAMCO

Explanation of Responses:

1. The reporting entity acquired 103,337 preferred shares through the exercise of preferred share purchase rights acquired through a pro-rata distribution of such rights by the Issuer on December 24, 2008.

2. These shares are owned by GAMCO Investors, Inc. Mr. Gabelli and GGCP have less than a 100% interest in this entity and disclaim beneficial ownership of the shares held by this entity which are in excess of their indirect pecuniary interests.

3. The reporting entity acquired 2,577 preferred shares through the exercise of preferred share purchase rights acquired through a pro-rata distribution of such rights by the Issuer on December 24, 2008 and 137,423 preferred shares through the exercise of the oversubscription privilege.

4. These shares are owned by a limited partnership for which Mr. Gabelli serves as a general partner. Mr. Gabelli has less than a 100% interest in the entity and disclaims beneficial ownership of the shares held by this entity which are in excess of his indirect pecuniary interest.

5. The reporting entity acquire 5,224 preferred shares through the exercise of preferred share purchase rights acquired through a pro-rata disbribution of such rights by the Issuer on December 24, 2008 and 34,776 preferred shares through exercise of the oversubscription privilege.

6. These shares are held by GGCP Inc. Mr. Gabelli has less than a 100% interest in this entity. The securities reported reflect the total amount of securities beneficially owned by this entity which are in excess of his indirect pecuniary interest.

7. The reporting entity acquire 1,454 preferred shares through the exercise of preferred share purchase rights acquired through a pro-rata distribution of such rights by the Issuer on December 24, 2008 and 40,000 preferred shares through exercise of the oversubscription privilege.

8. These shares are owned by a limited liability company. Mr, Gabelli has less than a 100% interest in this entity and disclaims beneficial ownership of the shares held by this entity which are in excess of his indirect pecuniary interest.

9. The reporting entity acquired 717 preferred shares through the exercise of preferred share purchase rights acquired through a pro-rata distribution of such rights by the Issuer on December 24, 2008.

10. These shares are owned by a subsidiary of GAMCO Investors, inc. Mr. Gabelli, GAMCO Investors, Inc. and GGCP have less than a 100% interest in this entity and disclaim beneficial ownership of the shares held by this entity which are ine excess of their indirect pecuniary interests.

11. The reporting person acquired 15,030 preferred shares through the exercise of preferred share purchase rights acquired through a pro-rata distribution of such rights by the Issuer on December 24, 2008 and 295,461 preferred shares through exercise of the oversubscription privilege.

	Douglas R. Jamieson as Attorney-In-Fact for Mario J. Gabelli and GGCP, Inc. and GAMCO Investors, Inc.	02/13/2009
	** Signature of Reporting Person	Date
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