BusinessCorporate FinancePrivate equity deals tumble

Private equity deals tumble

Big drop in buy-outs

Despite recent high-profile moves for ITV and HMV, the Centre for Management
Buy-Out Research has revealed that UK private equity buy-outs in the first half
of 2006 reached just £10.1bn compared with £12.8bn for the same period of 2005.

This contrasts with a 70% jump in deals made on mainland Europe.

The research suggests that UK shareholders have become more resistant to
private equity bids.

Tom Lamb, co-head of Barclays Private Equity, which co-sponsored the
research, said private equity in the UK was a ‘bit of a victim of its own
success’.

‘In the UK investors now feel that a company must be undervalued if a private
equity bidder shows an interest,’ he added.

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