UK dealmaking slows despite Eurozone rise
UK MERGERS and acquisition activity has fallen to its lowest level in eight years, as Britain struggles to keep pace with an increase in dealmaking in Germany and France, figures show.
Around 1,900 deals were completed across Britain this year, down 20 per cent compared to 2012, according to the figures from EY.
Total deal values fell even further, from $129bn to $80bn, a drop of 40 per cent.
The UK statistics are in contrast to Germany and France, where values have risen 36 per cent and 40 per cent respectively this year.
“M&A activity both globally and in the UK has remained bleak. Deal inertia has continued in 2013 as many companies opted to spectate rather than participate in the M&A market,” EY’s Jon Hughes said.
Elsewhere, deals completed in the US rose 27 per cent while China’s deal values rose 38 per cent.