UK public M&A—Trend Report update—1 January-30 June 2018

UK public M&A—Trend Report update—1 January-30 June 2018

Lexis®PSL Corporate and Market Tracker have conducted research to examine the current trends in UK public M&A for the period 1 January 2018 to 30 June 2018.

Background and approach

Lexis®PSL Corporate and Market Tracker have 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 analysis tool which allows users to access, analyse and compare the specific features of a range of corporate transactions. This is an update to our  Market Tracker Trend Report which reviewed trends in UK public M&A in 2017.

For the purposes of this update we analysed the period between 1 January 2018 to 30 June 2018 (the 2018 Review Period). While comparisons have been made to the equivalent period in 2017, (1 January 2017-30 June 2017) (the 2017 Review Period) definitive conclusions can only be made on the completion of the full year trend report of 2018.

We reviewed a total of 54 transactions that were subject to the Takeover Code (the Code): 22 firm offers (12 for Main Market companies, 10 for AIM), 32 possible offers, made up of 27 possible offers (22 for Main Market and 5 for AIM companies) and five formal sale processes (FSP) (1 for a Main Market company and 4 for AIM 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)

During the 2018 Review Period, 27 Rule 2.4 announcements were made.

A total of 32 targets had an offer period begin with either the announcement of a possible offer or an FSP.

27 offer periods began with a Rule 2.4 announcement. Of these:

10 (37%) progressed to a firm offer during the 2018 Review Period, of which:

  • eight (80%) progressed to firm offers during their initial PUSU deadline (possible offers for Virgin Money Holdings (UK) plc CYBG plc, Fidessa Group plc by ION Investment Group Limited, Vipera plc by Banca Sella Holding S.p.A.,

Subscription Form

Related Articles:
Latest Articles:

Already a subscriber? Login
RELX (UK) Limited, trading as LexisNexis, and our LexisNexis Legal & Professional group companies will contact you to confirm your email address. You can manage your communication preferences via our Preference Centre. You can learn more about how we handle your personal data and your rights by reviewing our  Privacy Policy.

Access this article and thousands of others like it free by subscribing to our blog.

Read full article

Already a subscriber? Login

About the author: