M&A figures offer little hope for UK banks

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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