Insights into UK Public M&A activity (April)

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

May 2026 - Reports

Our April UK Public M&A Update – a concise monthly 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:

New public M&A activity increased in April, with 9 companies entering an Offer Period
There were 31 companies in an Offer Period at the end of April (March: 31), trending ahead of the five-year average (28).
The median bid premium in 2026 YTD is 33.5%, broadly in line with 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 76% 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 April Report

Learn more about our M&A services