Insights into UK Public M&A activity (September)

Our Septembrt 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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This month’s UK Public M&A Update offers an informed overview of deal activity and insights on recent trends. In September, nine companies entered an Offer Period, up from four in August. Companies valued below £500m still account for the majority (63%) of those in an Offer Period, and overseas acquirors continue to drive UK public takeover activity. We note the rise in ‘bear hug’ and hostile offer tactics, highlighting the need for boards to be defence-ready and have a clear view on company intrinsic value and shareholder sentiment.

Key highlights this month:

New public M&A activity increased in September, with 9 PLCs entering an Offer Period
There were 35 companies in an Offer Period at the end of August, trending ahead of the five-year average (29).
September saw a further increase in >£1bn companies in play, at 26% of companies in an Offer Period. Small cap companies still account for the majority, with 63% of targets having an undisturbed market cap below £500m.
Overseas acquirers continue to drive UK PLC M&A activity, representing 75% of disclosed bidders in September

Download the September Report

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