UK takeover activity started at a brisk pace in the first quarter of 2026, according to research from broker Peel Hunt, with 13 live bids worth £21 billion in the first quarter as both corporate and financial buyers remain active.
A year ago, the broker counted 15 live bids worth £9 billion.
The broker said the “fast pace” of deals comes despite rising geopolitical uncertainty, with most transactions continuing even as conflict in the Middle East weighs on sentiment.
Activity has been broad-based, with bids spanning the FTSE 100 (Beazley, Schroders, British Land), FTSE 250 (Senior) and smaller companies (CAB Payments, Kitwave and Amedeo Air Four).
Overseas bidders remain a key driver, accounting for around 62% of approaches so far this year, broadly in line with recent trends.
Corporate buyers are also leading activity, responsible for eight of the 13 situations identified.
Sector-wise, funds and real estate have been the most active areas, reflecting a push for scale and efficiencies, while technology and industrial names have also attracted interest.
By contrast, the IPO market has slowed sharply, after a stronger end to 2025.
Listings have been pushed back amid heightened uncertainty, although Peel Hunt expects activity to recover later in 2026 if conditions stabilise.
The pickup in dealmaking continues a longer-term trend of companies leaving public markets, particularly at the smaller end, where the number of listed firms has fallen significantly in recent years.
A rare float came on Monday, with Halo Minerals arriving on AIM with £4 million freshly raised.