Takeover bids for UK companies have reached their highest level since the dotcom boom, according to new data.
Deal involving public and private UK companies have numbered 2,463 so far this year, according to Refinitiv, the highest number at this point since at least 1998.
This included 220 proposed bids in July with a combined value of around US$35bn – including for defence contractors Meggitt PLC (LSE:MGGT) and Ultra Electronics Holdings PLC (LSE:ULE) and grocery chain supermarket chain Wm Morrison Supermarkets PLC (LSE:MRW) – following 349 offers in June worth a total of roughly US$37bn - including St Modwen PLC and Senior PLC (LSE:SNR) (though the latter was unsuccessful).
The combined value of agreed takeover attempts of UK companies is approaching US$217bn (£156bn), which at this point in the year is the highest total for 14 years.
British companies' low relative valuations have attracted many of these deals.