UK public M&A deals in 2019 - Market Tracker Trend Report

UK public M&A deals in 2019 - Market Tracker Trend Report

This Market Tracker trend report provides in-depth analysis of the 66 firm and 45 possible offers made for quoted companies subject to the Takeover Code in 2019. It includes insight into public M&A trends and what we might expect to see in 2020 and beyond.

Topics covered include:

  • deal value and volume
  • private equity deal activity
  • hostile takeovers and competing bids
  • industry focus
  • UK and foreign bidder activity
  • shareholder activism
  • post-offer undertakings and national security undertakings
  • legal and regulatory developments
  • analysis of high profile transactions, including the Takeaway.com/Prosus competing bids for Just Eat, Advent International‘s £4bn offer for Cobham, the £2.6bn consortium bid for Inmarsat, and Non-Standard Finance ‘s £1.3bn hostile offer for Provident Financial

Report highlights

Public M&A deal volume increased significantly in 2019 (66 firm offers) compared with 2018 (42 firm offers). However, this was offset by a decline in deal value, with aggregate deal value of £53.6bn (2018: £122.1bn) and average deal value of £812m (2018: £2.9bn).

Of the 66 firm offers announced in 2019, 13 (20%) had a deal value over £1bn. The largest deal was Takeaway.com ‘s £6.3bn offer for Just Eat, which was also the subject of a £5.5bn competing bid from Prosus.

2019 saw recor

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Market Tracker is a unique service for corporate lawyers housed within Lexis®PSL Corporate. It features a powerful transaction data analysis tool for accessing, analysing and comparing the specific features of corporate transactions, with a comprehensive and searchable library of deal documentation across 14 different deal types. The Market Tracker product also includes news and analysis of key corporate deals and activity and in-depth analysis of recent trends in corporate transactions.