UK M&A activity rebounds, says GT

Cross-border mergers and acquisitions present a mixed picture. For thefirst time ever, the number of acquisitions abroad by UK companies duringthe second quarter of the year (48) is less than the number of acquisitionsin the UK by foreign companies (53).

The 48 acquisitions abroad by UK companies during Q2 2005 represent a dropof 70% compared to the previous quarter. The amount is also 70% lower thanthe corresponding quarter in 2004. Whilst the value of such acquisitionshas rocketed by almost 100% (from £3.5bn during Q1 2005 to £6.9bn during Q22005), this is largely due to a handful of large transactions.

During Q2 2005 there were 53 foreign acquisitions of UK companies. Thisrepresents an increase of 10% on the previous quarter (48). The value ofsuch deals during the quarter (£7.9bn) represents a drop of 50% on theprevious three months but maintains a trend, now lasting three successivequarters, where the overall value of foreign acquisitions in the UK hasbeen substantially higher than the values of the acquisitions performed byUK buyers abroad.

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