Takeovers of British companies hit their highest level since 2007 in the past twelve months, led Morrisons and Meggitt both which were the subject to multi-billion-pound deals.
According to data compiled by Refinitiv, a provider of financial market data, the value of deals involving UK companies was US$630.8bn, the highest number since 2007.
The total number of deals involving UK companies was 6,926, a 39% increase.
Refinitiv’s data suggests that the number of mergers and acquisitions has been propelled by a sharp rise in the number of takeovers completed by private equity companies.
Its data, quoted in The Times, says takeovers targeting British companies by private equity houses were worth US$85.1bn.
PE completed 781 deals, the largest number since Refinitiv began collecting data in 1980.
Supermarket Morrisons acquisition by Clayton, Dubilier and Rice (CD&R), a US private equity firm, for £7.1bn in October was the biggest deal.
CD&R had beat off competitor Fortress in the bid battle.
Meggitt, meanwhile, was purchased by Parker-Hannifan Corporation for £6.9bn, though the takeover is still subject to an investigation by the UK’s competition watchdog on the grounds of national security.
Takeover approaches have also been rife during 2021 with the gambling software group Playtech PLC (AIM:PTEC) subject to three already including one from Eddie Jordan, the former F1 boss.
BT and Sainsburys have also been the subject of much speculation, with the latter said to be the subject of interest from a US private equity firm.