2008 proved to be a turbulent year for M&A in the UK, Europe and beyond. The global financial crisis, precipitated by the collapse of Lehman Brothers in September, had a major impact on M&A levels as the volume of deals in the UK fell by 47% between the first and second halves of the year. However, deal valuations increased to £92.3bn over the same time period, largely thanks to a series of government bail outs in the banking sector.
Despite a number of significant transactions, UK M&A activity has recently tended towards the mid-market space. This trend looks set to continue for the foreseeable future with market uncertainty and the availability of debt financing likely to act as the principal deterrents to large cap deals. The difficult economic climate and an increase in the number of distressed assets is also likely to continue to provide opportunities for cash rich acquirers and drive M&A activity, especially over the short term.
Table of Contents
Foreword
UK sectors
All sectors
Hotels & Leisure
Business Services
Food
Real Estate
Manufacturing
UK regions
The South East
The Midlands
The North
Scotland
The South West and Wales
East Anglia
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