UK Public M&A Report update (1 Jul-30 September 2017)

UK Public M&A Report update (1 Jul-30 September 2017)

Lexis®PSL Corporate and Market Tracker has conducted research to examine the current trends in UK public M&A for the period 1 July 2017 to 30 September 2017.

Background and approach

Lexis®PSL Corporate and Market Tracker has conducted research to examine the current trends in respect of UK public M&A. Data for this report has been sourced from the Market Tracker transaction data analysis tool which allows users to access, analyse and compare the specific features of numerous corporate transactions.

This is an update to our latest Market Tracker Trend Report which reviewed trends in UK public M&A in the first half of 2017. To read this Trend Report, click here.

For the purposes of this update we analysed the period between 1 July 2017 to 30 September 2017 (the Review Period). Whilst comparisons have been made to H1 2017 definitive conclusions can only be made on the completion of second half of 2017. The forthcoming Market Tracker Trend Report covering trends in UK public M&A activity in 2017 will be published in January next year.

We reviewed atotal of 19 transactions that were subject to the Takeover Code (the Code): 11 firm offers (5 for Main Market companies, 6 for AIM) and 8 which were at the possible offer stage at 30 September 2017 (3 for AIM and 5 for Main Market companies).

The percentages included in this update have been rounded up or down to whole numbers, as appropriate.

Possible offers (made under Rule 2.4)

Announcement date Deal Market for target's shares
28 September 2017 RedstoneConnect Plc—possible offer by A P Systems Holdings Ltd AIM
16 August 2017 Quantum Pharma plc – possible offer by Clinigen Group plc (firm offer announced) AIM

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