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UK public M&A 2024: Takeover Code trends, deal values and structures, P2P, overseas bidders, activism, and H2 2024 legal and regulatory updates, with expert commentary and a 2025 outlook

Practice notes
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What does the Market Standards Trend Report cover?

Click here to download the full report in Shorthand format.

The Market Standards Trend Report offers a detailed examination of 55 firm offers, 51 possible offers and 15 announcements of formal sale processes, private sale processes and/or strategic reviews, announced in 2024 by Main Market and AIM companies subject to the Takeover Code (the Code). It shares insight into UK public M&A trends and what we, together with leading experts from Addleshaw Goddard, Ashurst, Bird & Bird, Hogan Lovells, Linklaters, Macfarlanes, Paul Weiss and White & Case, expect for 2025 and beyond.

  • outlook for 2025
  • deal value and deal volume
  • deal structure
  • unrecommended and competing offers
  • public to private (P2P) transactions
  • bidder jurisdiction
  • industry
  • nature of consideration and bid financing
  • irrevocable undertakings and shareholder activism
  • possible offers, formal sale processes, private sale processes and strategic reviews
  • legal and regulatory developments

The report also assesses prominent deals, including International Paper Company’s £5.8bn offer for DS Smith and the £5.4bn bid for Hargreaves Lansdown by a consortium...

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Web page updated on 27/05/2026

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