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 company provides a range of forklift truck solutions including sales, repairs, servicing, manufacturing and hire. Designs and manufactures its own branded forklifts with an extensive product range including reach trucks, order pickers and tow tra...
LEASEHOLD
Multiple opportunities for growth and international expansion. Operates from leasehold premises. Our clients are offering the business for sale to facilitate further growth under the impetus of new ownership. Offers invited.
LEASEHOLD
Modern, well-positioned UK-based freehold premises to be included in sale. Genuine scope for further growth with development of existing product range and the addition of a sales function. Offers invited.
FREEHOLD
|
27
|
|
May
|
Food-to-go supplier calls in administrators | ADMINISTRATION
Adelie Foods, one of Britain’s biggest suppliers of sa...
|
26
|
|
May
|
Luxury fashion brand DVF Studio enters administration | ADMINISTRATION
DVF Studio, the UK business of fashion designer Diane von Fu...
|
24
|
|
May
|
Over 50 hotels and travel brands up for sale as leisure company collapses | ADMINISTRATION
The parent company of coach holiday company National Holiday...
Sign up to receive our acquisition alert emails to get your FREE guide
|
27
|
|
May
|
Food-to-go supplier calls in administrators | ADMINISTRATION
Adelie Foods, one of Britain’s biggest suppliers of sa...
|
26
|
|
May
|
Luxury fashion brand DVF Studio enters administration | ADMINISTRATION
DVF Studio, the UK business of fashion designer Diane von Fu...
|
24
|
|
May
|
Over 50 hotels and travel brands up for sale as leisure company collapses | ADMINISTRATION
The parent company of coach holiday company National Holiday...
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