Surge in foreign bids for British firms, finds study

OVER half of all UK-listed companies subject to takeover bids in the last quarter were targeted by foreign firms, a study has shown.

Around 53 per cent of offers came from overseas companies, nearly double the 27 per cent seen in the first quarter of 2008, according to research by City law firm Wedlake Bell.

America continues to be the main source of foreign offers for UK-listed firms, though the number of bids from China and India has also increased.

Tim Bird, partner at Wedlake Bell, said: “The return to growth of the UK economy is boosting the confidence of overseas investors who clearly view the long term prospects of the UK economy to be very good.”