M&A figures offer little hope for UK banks
Hopes of an upturn for investment banks have been dashed as new research reveals the value of UK mergers and takeovers has fallen to a ten-year low.
Hopes of an upturn for investment banks have been dashed as new research reveals the value of UK mergers and takeovers has fallen to a ten-year low.
Link: M&A rises impressive 14% in UK
Only 864 deals have been agreed in the first quarter, representing a combined value of $34bn (£18.7bn). It is a 30% fall compared to the same period last year, when 905 deals worth $48bn were announced, according to research from Thomson Financial.
Also down was the value of UK companies acquired in the first quarter, falling 22% to $22.1m.
In contrast activity in the mergers and acquisition sector in the US has been growing fast. The value of North American companies acquired, quadrupling to $284.7bn in the first quarter of 2004, compared with the same period last year.
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