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Rise in UK’s foreign acquisitions
British companies boosted their acquisitions abroad in the first three months of the year, official data showed yesterday. The total value of acquisitions jumped to £18.3bn in the first quarter, from just £3.8bn in the last quarter of 2010, hitting the highest reported value for outward investment since late 2007. Total acquisitions of UK companies from overseas fell slightly to £6.4bn, from £7bn in the fourth quarter of 2010. Spending by UK companies on intra-UK acquisitions fell to £1.2bn, from £6.3bn in the previous quarter.