Insights into UK Public M&A activity - Singer Capital Markets

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March 2026 - Reports

Insights into UK Public M&A activity

Our February UK Public M&A Update – a concise monthly summary highlighting key trends and activity within the UK public M&A market.

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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:

New public M&A activity slowed in February, with five companies entering an Offer Period. There were 32 companies in an Offer Period at the end of February (January: 33) –still ahead of the five-year average (28).
UK smaller companies continue to be attractive targets, with the proportion of PLCs having an undisturbed market capitalisation below £500m now representing 75%of companies in an Offer Period.
Private Equity remains the most prominent bidder category in February, increasing to 43%of named bidders (January: 40%).
Overseas acquirers continue to account for the majority of UK PLC M&A activity, representing 67% of bidders in February, in line with January.

Download the February Report

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