Insights into UK Public M&A activity (H1)

Home Insights into UK Public M&A activity (H1)

July 2026 - Reports

Our H1 UK Public M&A Update – an insightful half-yearly summary highlighting key trends and activity within the UK public M&A market.

1/1

Public M&A continues to be an area of significant interest for PLC boards, especially in the context of UK equity market valuations, buyside fund flows, and defence preparedness. Our review provides readers with an informed snapshot of current deal activity and emerging themes shaping the market.

Key highlights this month:

Public M&A activity remained steady from this time last year, with an avg. of 33 companies entering an Offer Period
There were 41 companies in an Offer Period at the end of H1 (H1 2025: 44).
The median bid premium in 2026 YTD is 33.5%, slightly above H1 2025 (32.8%)
UK smaller companies continue to be attractive targets, with the proportion of PLCs having an undisturbed market capitalisation below £500m now representing 72% of companies in an Offer Period.
Other bidders including private corporates and family-owned strategics have overtaken Private Equity as the most active acquirer category.

Download the H1 Report

Learn more about our M&A services