A series of abandoned takeover bids by US companies have led to UK mergers and acquisitions hitting a record low in the second quarter of 2014.
Pfizer’s doomed AstraZeneca takeover, Destination Maternity’s failure to reach a Mothercare deal and Carillon’s scrapped Balfour Beatty acquisition have helped to drive down M&As activity taking place on British shores, according to City AM.
Just 73 mergers and acquisitions of companies worth more than £1m took place during April, May and June, of which 37 were overseas takeovers by UK firms and 19 involved UK businesses sold to foreign companies.
UK companies spent an average of £2.1bn on acquiring companies from abroad, whilst the average value of foreign acquisitions of UK firms was just £1.5bn. Domestic transactions also fell from £1.6bn in Q1 to £1.2bn in Q2, official figures have shown.
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"Uncertainty is the enemy of deal-making", so it's no surprise that Europe and the Asia Pacific's insurance industry saw merger and acquisition deals fall in the first half of 2017.
One in five countries is set to hit their highest government debt levels in 17 years predicts Fitch, although there has still been a dramatic improvement in sovereign credit.