Weak dollar fails to impact US acquirers in the UK

The number of US companies acquiring UK businesses has increased by almost 20% between 2002 and 2003, despite the value of the dollar falling and consequently making acquisitions more expensive, according to research by Grant Thornton Corporate Finance. During 2002, 147 deals involved a US company seeking to purchase a UK company whilst 2003 saw the number of such deals increase by 19.3% reaching 197. David Brooks of Grant Thornton stated: 'Despite rising costs it appears clear that US acquirers are putting strategic development ahead of short-term concerns and continue to regard UK investments as an ideal way to add value to their businesses and promote growth'. He continued 'The UK sectors that are likely to be of most interest to US acquirers are likely to be IT and media. Both are undergoing a period of consolidation in the US, a trend, which given the current composition of the UK market is likely to be replicated in the UK.'

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• UK / Ireland
• Media