Europe leads the way in merger activity
Western European companies have established a leading role in global mergers and acquisitions activity, accounting for more than three-quarters of global cross-border deals, according to a new study.
Figures released today by KPMG’s Corporate Finance Department show the value of cross-border buying by Western Europeans to have been in excess of £320bn for the first half of the year. Global cross-border M&A activity, meanwhile, climbed to £424bn in the same period.
And the UK emerged as the world’s single largest buyer following the purchase of German multinational Mannesmann by Vodafone-Airtouch for approximately £122bn earlier this year.
The survey represents data compiled worldwide from over 3,300 cross-border mergers, acquisitions and strategic investments announced January to June 2000.
- KPMG has appointed 80 new partners, a record intake for the Big Five firm. The previous record for a single partner intake was 64.
Of the new appointees who take up their posts on 1 October, 24 will join assurance, 20 go to Financial Advisory Services, 17 in consulting, 16 in tax, two in support functions and one in Klegal, KPMG’s associated law firm.
The new recruits will bring the firm’s tally up to 687 UK partners.
Senior UK partner Mike Rake said: ‘Continued strong demand for our services in 1999/2000, combined with the exceptional quality of our people, have produced this record increase in partner numbers.’