Brexit Leads to Near Doubling of M&A Activity

Companies seeking to “bulk up” to offset the uncertainty caused by Britain’s looming EU exit helped to spur a near doubling of domestic mergers and acquisition activity this year, according to Thomson Reuters data.The volume of UK domestic deals surged to $68 billion (51 billion pounds) from $34.3 billion in 2016 as the number of deals between British groups jumped from 1,480 to 1,681, the highest level since 2008, the data show.They included online gambling company GVC’s purchase of bookmaker Ladbrokes Coral for as much as 3.9 billion pounds and Hammerson’s 3.4 billion pound acquisition of rival shopping centre operator Intu Properties.

Source: Brexit spurs near doubling of UK domestic deal-making – Reuters

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.