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LexisNexis Market Tracker has conducted research to examine the current post-Brexit market trends in respect of UK public M&A for the period between 1 September 2016 to 31 October 2016.
LexisNexis Market Tracker has conducted research to examine the current post-Brexit market trends in respect of UK public M&A.
This is an update to our latest post-Brexit UK public M&A update which reviewed trends in UK public M&A during 1 July 2016 to 31 August 2016. To read this update, click here.
For the purposes of this update we analysed firm and possible announcements made for companies subject to the Takeover Code (Code) between 1 September 2016 to 31 October 2016 (the Review Period). During the Review Period, 15 deals were announced: 9 firm offers (6 for AIM companies and 3 for Main Market) and 6 which were at the possible offer stage at 31 October 2016 (3 for AIM and 3 for Main Market companies).
The percentages included in this update have been rounded up or down to whole numbers, as appropriate.
[table id=15 /]
A total of 6 targets had an offer period begin with a possible offer announcement (including 2 FSPs).
Of the 4 possible offers which began with a Rule 2.4 announcement:
The 2 FSPs remain ongoing as at 31 October 2016.
[table id=17 /]
The total number of firm offers announced during the Review Period was 9; the same volume of firm offers was recorded in the 2 month period directly following the Brexit vote (1 July 2016 to 31 August 2016). In contrast, there were only 20 firm offer announcements made
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