Fri, 30 Dec 2016 | BUSINESS NEWS
Sterling’s rapid devaluation against the US dollar on the back of the surprise EU referendum result piqued overseas buyers’ interest in British firms, new research suggests.
While the data from Thomson Reuters shows that domestic UK dealmaking underperformed - there were only 1,355 domestic deals - Britain was saved from any ‘M&A collapse’ by foreign buyers on the hunt for good deals.
British M&A activity totalled $177.5 billion (£144 billion) in 2016, some way below the record $394.8 billion reached in 2015 - but still “in line with the longer five-year trend”, Reuters said.
Inbound M&A reached $143.7 billion and domestic M&A was $33.7 billion as the UK kept its place as the third-largest market for deals after the US and China.
Reuters said the rise of the foreign buyer was a clear trend, citing Rupert Murdoch’s 21st Century Fox takeover of British broadcaster Sky for £11.7 billion.
"Brexit should never have been talked up as an Armageddon moment for UK M&A, especially with such a sharp devaluation in the currency which has clearly been a stimulus for overseas buyers," Tim Gee, an M&A partner at law firm Baker & McKenzie, told Reuters.
"Much of the activity in 2016 was skewed towards foreign buyers with less UK-to-UK activity," Mr Gee added.
"Total activity levels were not really knocked that much by Brexit but who was doing the buying did shift - deal values in 2016 are very similar to the historical trend."
The shop is located in a High Street position in a long parade of shops, in this very busy area of East London and a few minutes walk from a TFL railway station.
Current annual income is in the region of: £310,000, from commercial management and sales and professional work.
Current annual income is in the region of £455,000. This staff run business has been established for many years and is a member of ARLA.
25
|
Apr
|
Ambulance services provider acquired in pre-pack deal | BUSINESS SALE
Elite Emergency Medical Services Ltd (Elite EMS), an ambulan...
25
|
Apr
|
Tile business old to management team by Norcros | MBO/MBI
Johnson Tiles UK, a tile business based in Stoke-on-Trent, h...
25
|
Apr
|
New private equity owner for fleet hire firm | BUSINESS SALE
West Lancashire-based fleet hire business NRG Riverside has ...
25
|
Apr
|
New private equity owner for fleet hire firm | BUSINESS SALE
West Lancashire-based fleet hire business NRG Riverside has ...
25
|
Apr
|
Tile business old to management team by Norcros | MBO/MBI
Johnson Tiles UK, a tile business based in Stoke-on-Trent, h...
25
|
Apr
|
Ambulance services provider acquired in pre-pack deal | BUSINESS SALE
Elite Emergency Medical Services Ltd (Elite EMS), an ambulan...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.