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

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April 2026 - Reports

Insights into UK Public M&A activity

Our March 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 increased in March, with 7 companies entering an Offer Period
There were 31 companies in an Offer Period at the end of March (February: 32), trending ahead of the five-year average (28).
The median bid premium in 2026 YTD is 33.0%, below 34.2% for 2025 overall.
UK smaller companies continue to be attractive targets, with the proportion of PLCs having an undisturbed market capitalisation below £500m now representing 74%of companies in an Offer Period.
Private Equity remains the most prominent bidder category in February, increasing again to 48% of named bidders (February: 43%).

Download the March Report

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