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M&A flurry 'boosts confidence in UK'

19 October 2010

The beginning of the week saw one of the busiest days this year for mergers and acquisitions (M&A) involving UK companies.

According to the Daily Telegraph, the five major deals announced on Monday (October 18th) helped British business to counteract the general sense of unease created by the build-up to Wednesday's Spending Review.

The flurry of takeovers included an offer from Royal Bank of Canada for Bluebay Asset Management worth £963 million, while Alliance Boots confirmed a €200 million (£175.6 million) transaction for Andreae-Noris Zahn, the German pharmaceutical firm.

Liam Beere, co-head of M&A for Europe, the Middle East and Africa at UBS, told the newspaper that volumes have risen by more than 20 per cent so far this year.

"We have seen an increase in deal volumes as value expectations of buyers and sellers converge, supported by stronger financing markets," he added.

Data published by Thomson Reuters last month revealed that M&A activity in the third quarter of 2010 totalled $599 billion (£378 billion), up 35.6 per cent on the previous year.

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Categories: Commercial


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