US buyers fuel UK M&A activity

 
Kasmira Jefford
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EXPANDING US corporates such as Kraft accounted for almost half of overseas purchases of UK listed companies last year, a leading City law firm said today.

Groups based in the US acquired 22 UK listed companies in the twelve months to the end of June, an increase of 83 per cent on the number of US led deals completed in the previous 12 months, a study by Wedlake Bell has found.

“US buyers have been better able than most to take advantage of the buying opportunity presented by the recession,” Tim Bird, partner and head of the firm’s corporate team said.

M&A activity in the UK continued to be subdued, the study found, with 86 deals completed in the year to June, down 23 per cent on the previous year,