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Public Mergers & Acquisitions (M&A) in the UK: Positive Activity in First Half of 2014

M&A activity for public companies in the UK has picked up in the first half of 2014 compared to the same period last year. In total, 22 firm offers for companies listed on the Main Market and AIM were announced in the first two quarters of 2014, an increase from the 17 firm offers made in the first half of 2013.

However, offers for AIM companies were down – only 12 firm offers compared to 14 offers in the first half of 2013.

Deal value has increased overall, with eight (2013: 5) offers being over £100 million, including three (2013: 1) of those bids with a value of over £1 billion.

The targets were from a variety of sectors with the most bids being made for companies in the oil and gas sector. The balance between UK bidders and foreign bidders has remained similar to last year, with 59 percent of bidders being incorporated abroad and 41 percent being UK-based.

May was the busiest month of the first half of 2014 in respect of bidding activity, with one-third of the 22 offers being made during this period.

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About this Author

Karoline Tauschke, Greenberg Traurig Law Firm, London, Corporate Law Attorney

Karoline Tauschke focuses on mergers and acquisitions and other transactional advice for corporate clients. She joined the firm as a trainee solicitor in 2011.

Karoline was seconded to the headquarters of AstraZeneca plc, a global biopharmaceutical company in 2013.