Foreign takeovers of UK companies drop

City A.M. Reporter
Foreign takeovers of British companies slumped in the second quarter of 2010 to their lowest in a year, falling to £2.3bn in the second quarter from £14.8bnin the first three months of the year, official data showed.

The Office for National Statistics said that by contrast, takeovers by British companies rose over the quarter, though volumes for all mergers and acquisitions activity remain well below levels before the financial crisis.

The volume of takeovers of overseas firms by British companies rose to £1.4bn from 0.7bn, and the volume of domestic takeovers by British firms increased to £1.9bn from £1.3bn.