Bloomberg quotes Giles Dennison on positive trends in the UK's M&A market
According to reports from Bloomberg, a 'sudden wave of mergers and acquisitions (M&A) activity' struck the UK this week, allaying some concerns about the market under the new Labour government and 'securing the country’s top spot among European dealmaking destinations'.
The article cites a number of recent and imminent deals supporting this trend - for example, Aviva this week announced a £3.3 billion takeover bid for Direct Line Insurance Group, followed a day later by Macquarie Asset Management’s offer to acquire Renewi for roughly £701 million.
Additionally, Bloomberg reports that ABC Technologies Holdings, which is backed by Apollo Global Management, may be nearing an agreement to buy British manufacturer TI Fluid Systems for roughly £1 billion.
Commenting on this apparent buoyancy in the UK's M&A market, Giles Dennison, Partner in our Corporate team, is quoted in the piece. He explains: "We are seeing a good amount of pent-up demand now beginning to be released".
Giles goes on to argue that the UK 'remains attractive' for investors with a steady political environment and an economy that is more benign than others.
Read the full article in Bloomberg here.
Related coverage:
The Business Times (Singapore)
