City AM quotes Ashwin Pillay on the latest round of ONS M&A statistics
According to official figures from the Office for National Statistics (ONS), the value of inward mergers and acquisitons involving UK firms, between April and June this year, fell to £7.4bn, down £4.4bn on the previous quarter and £4.7bn lower than the same period last year.
The overall value of deals including UK firms buying their compatriots also fell to around £12.1bn from £17.4bn the previous quarter, while the number of deals done involving UK firms fell by 58 to 450.
The figures point to the challenging conditions still facing dealmakers as high interest rates push up the cost of financing takeovers and volatile markets play havoc with pricing. A stronger pound this year has also pushed prices higher for foreign buyers.
Commenting on the statistics, Ashwin Pillay, Senior Associate in our corporate team, provides comment for City AM:
"The impact of these trends is felt the most in larger deals with, in our experience, a steady pipeline of transactions still being seen in the lower and mid-markets, and particularly in the Sports and Technology sectors, which are more resilient to the macroeconomic instability".
Read the full article in City AM here.
