FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL OMB Number: 3235-0287 Expires: January 31, 2005 Estimated average burden hours per response... 0.5

(Print or Type Responses)

1. Name and Address of Reporting Person * GABELLI MARIO J   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) (Last) (First) (Middle) C/O GAMCO INVESTORS, INC, ONE CORPORATE CENTER 3. Date of Earliest Transaction (Month/Day/Year) 02/11/2009 (Street) RYE, NY 10580 4. If Amendment, Date 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 (City) (State) (Zip) 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

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
	Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.		SEC 1474 (9-02)

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 Underlying Securities (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 of Derivative Security: 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

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
GABELLI MARIO J C/O GAMCO INVESTORS, INC ONE CORPORATE CENTER RYE, NY 10580	X
GAMCO INVESTORS, INC. ET AL ONE CORPORATE CENTER RYE, NY 10580				Owner of Adviser
GGCP, INC. 140 GREENWICH AVENUE GREENWICH, CT 06830				Majority shareholder of GAMCO

Signatures

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

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(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.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.