New data has revealed that the UK is the third most-targeted country in the world for M&A activity so far in 2024. The data comes with the UK experiencing improved economic stability, with inflation falling and interest rate cuts, as well as renewed political certainty following the July General Election.
M&A deals in which a UK company was the target accounted for 6 per cent of the global dealmaking total during the first nine months of the year, up from 4 per cent during the same period of 2023. This meant that the UK was the third most-targeted country for M&A worldwide, behind only the United States and China.
According to data from LSEG Deals Intelligence released today, M&A deals in which a UK company was the target of the bid totalled $137.1 billion (£102.4 billion) in the first three quarters of 2024, an increase of 54 per cent compared to the value seen in the first nine months of the year.
72 per cent of this total involved deals in which an overseas buyer targeted a UK business. This was the highest share in three years, with inbound activity having surged 79 per cent.
According to Lucille Jones, Senior Manager at LSEG Deals Intelligence, the July election, in which the Labour party won a significant majority to replace the previous Conservative government, has removed a considerable amount of political uncertainty, bringing more clarity and confidence to M&A buyers.
Jones continued: “This, coupled with the expectation of a further rate cut before the end of the year, bodes well for dealmaker appetites, and may encourage more companies off the sidelines to pursue acquisitions.”
UK companies have been the target of numerous multi-billion pound bids so far this year. These include property site RightMove, which recently rejected a third offer from Rupert Murdoch’s REA Group that valued the company at £6.1 billion, packaging firm DS Smith, which agreed a £5.8 billion takeover by US rival International Paper earlier this year, and cybersecurity and AI company Darktrace, which was acquired by US private equity firm Thoma Bravo for around £4.2 billion in April.
In addition to the significant uptick in inbound M&A targeting UK companies, UK outbound M&A has also increased. According to LSEG Deals Intelligence, the value of UK outbound M&A stands at £38.9 billion so far this year, a 15 per cent increase compared to the first three quarters of 2023.
In addition to surging levels of inbound M&A activity, UK private equity investment is also expected to increase after a slow start to the year
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