GDL FUND — Director's Dealing 2009

Feb 13, 2009

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Gabelli Global Deal Fund (GDL.A)
CIK: 0001378701
Period of Report: 2009-02-11

Reporting Person: GABELLI MARIO J (Director)
Reporting Person: GAMCO INVESTORS, INC. ET AL (Owner of Adviser)
Reporting Person: GGCP, INC. (Majority shareholder of GAMCO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2009-02-11	Preferred Shares	P	103337	$50	Acquired	103337	Indirect
2009-02-12	Preferred Shares	P	140000	$50	Acquired	140000	Indirect
2009-02-11	Preferred Shares	P	40000	$50	Acquired	40000	Indirect
2009-02-12	Preferred Shares	P	41454	$50	Acquired	41454	Indirect
2009-02-11	Preferred Shares	P	717	$50	Acquired	717	Indirect
2009-02-12	Preferred Shares	P	310491	$50	Acquired	310491	Direct

Footnotes

F1: 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.

F2: 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.

F3: 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.

F4: 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.

F5: 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.

F6: 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.

F7: 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.

F8: 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.

F9: 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.

F10: 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.

F11: 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.