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UK public M&A Q1 2024: fewer deals, higher values; five £1bn+ bids; schemes prevail; P2P falls; property leads; overseas bidders 46%; key Takeover Code and Panel developments

Published on: 16 April 2024

Published by a LexisNexis Corporate expert
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Article summary

Market Standards Trend Report—Trends in UK public M&A in Q1 2024

Background and approach

Market Standards has undertaken analysis to identify prevailing patterns in UK public M&A. This update draws on the Market Standards transaction data analysis tool, which enables users to access, analyse and compare the distinctive features of numerous corporate transactions. It follows our Market Standards Trend Report—Trends in UK public M&A in 2023, in which we assessed firm and possible offers announced in 2023. For this iteration, we reviewed activity from 1 January 2024 to 31 March 2024 (Q1 2024). While we have set these findings alongside the preceding quarter (1 October 2023 to 31 December 2023) and the equivalent period in 2023 (1 January 2023 to 31 March 2023), firm conclusions will only be possible once the 2024 full-year trend report is complete.

In total, we considered 31 transactions within the scope of the Takeover Code (the Code): 13 firm offers (9 involving Main Market companies and 4 involving AIM companies), together with 13 possible offers (10 for Main Market companies, 2 for AIM companies and 1 for an Aquis)...

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