ARCHIVED: This content was published in 2021 and is not maintained. The Market Standards trend report provides in-depth analysis of the 42 firm offers, 45 possible offers and 13 formal sale processes and/or strategic reviews, which were announced by Main Market and AIM companies subject to the Takeover Code in 2020. It includes insight into public M&A trends and what we and our contributors expect to see in 2021 and beyond. What does the Market Standards trend report cover? Topics covered include: • deal value and volume • deal structure • hostile, competing and mandatory offers • P2P transactions • UK and overseas bidder activity • industry focus • post-offer statements of intention (POI statements) and COVID-19 • legal and regulatory developments • predictions for 2021 The

ARCHIVED: This Practice Note has been archived and is not maintained. The Market Standards trend report provides in-depth analysis of the 53 firm offers, 52 possible offers and five formal sale processes and/or strategic reviews, which were announced by Main Market and AIM companies subject to the Takeover Code (Code) in 2021. It includes insight into public M&A trends and what we and our contributors expect to see in 2022 and beyond. What does the Market Standards trend report cover? Topics covered include: • outlook for 2022 • deal value and volume • deal structure • hostile, competing and mandatory offers • P2P transactions • UK and overseas bidder activity • industry focus • engagement by shareholders and other stakeholders • legal and regulatory developments The report includes analysis of high profile transactions, including the £7.1bn competing offers for Wm Morrison Supermarkets, the £3.5bn consortium offer for Signature Aviation and the £2.7bn offer for DMGT by the Rothermere family. What are the highlights from the report? Public M&A activity increased

ARCHIVED: This Practice Note has been archived and is not maintained. The Market Standards trend report provides in-depth analysis of the 46 firm offers, 47 possible offers and 17 formal sale processes and/or strategic reviews, which were announced by Main Market and AIM companies subject to the Takeover Code (Code) in 2022. It includes insight into public M&A trends and what we and our contributors expect to see in 2023 and beyond. What does the Market Standards trend report cover? Topics covered include: • outlook for 2022 • deal value and volume • deal structure • hostile, competing and mandatory offers • P2P transactions • UK and overseas bidder activity • industry focus • shareholder engagement • legal and regulatory developments The report includes analysis of high profile transactions, including the £9.9bn offer for AVEVA Group by Schneider Electric and the competing offers for M&C Saatchi by AdvancedAdvT and Next Fifteen Communications. What are the highlights from the report? After high levels of activity in 2021, public M&A

ARCHIVED: This content was published in 2024 and is not maintained. The Market Standards Trend Report provides in-depth analysis of the 56 firm offers, 39 possible offers and 11 announcements of formal sale processes and/or strategic reviews, which were announced by Main Market and AIM companies subject to the Takeover Code (the Code) in 2023. It includes insight into public M&A trends and what Market Standards, Lexis+® UK Practical Guidance and our contributors expect to see in 2024 and beyond. What does the Market Standards trend report cover? Topics covered include: • outlook for 2024 • deal value and deal volume • deal structure • unrecommended, competing and mandatory offers • public to private (P2P) transactions • bidder jurisdiction • industry • offer timetables • bid financing • shareholder engagement • legal and regulatory developments The report includes analysis of high profile transactions, including the £4.5bn offer for Dechra Pharmaceuticals by EQT, the £2.2bn offer for Network International Holdings by Brookfield and the competing offers for Kin and Carta by Apax Partners and

What does the Market Standards Trend Report cover? Click here to download the full report in Shorthand format. The Market Standards Trend Report provides in-depth analysis of the 55 firm offers, 51 possible offers and 15 announcements of formal sale processes, private sale processes and/or strategic reviews, which were announced by Main Market and AIM companies subject to the Takeover Code (the Code) in 2024. It includes insight into UK public M&A trends and what we and leading experts from Addleshaw Goddard, Ashurst, Bird & Bird, Hogan Lovells, Linklaters, Macfarlanes, Paul Weiss and White & Case expect to see in 2025 and beyond. Topics covered include: • outlook for 2025 • deal value and deal volume • deal structure • unrecommended and competing offers • public to private (P2P) transactions • bidder jurisdiction • industry • nature of consideration and bid financing • irrevocable undertakings and shareholder activism • possible offers, formal sale processes, private sale processes and strategic reviews • legal and regulatory developments The report includes analyses of high-profile

ARCHIVED: This content was published in 2013 and is not maintained. This report examines market trends in respect of UK public M&A deals in the first half of

ARCHIVED: This content was published in 2014 and is not maintained. This

ARCHIVED: This content was published in 2015 and is not maintained. This report provides in-depth analysis of the 46 firm and possible offer announcements made for companies

ARCHIVED: This content was published in 2016 and is not maintained. This report provides in-depth analysis of the 42 firm and possible offer announcements made for companies subject

ARCHIVED: This content was published in 2017 and is not maintained. The Market Standards Trend Report provides in-depth analysis of the 52 firm and possible offers announcements made for companies subject to the Takeover Code in the first half of 2017. It includes insight into public M&A trends and what we might expect to see in the rest of 2017 and beyond. The report contains expert commentary from Selina Sagayam, Head of UK Transactional Practice Development at Gibson Dunn. Topics covered include transaction structure, deal value and

ARCHIVED: This content was published in 2019 and is not maintained. Market Standards’s latest trend report, Trends in UK Public M&A deals in H1 2019, examines the current trends in the UK public mergers and acquisitions (M&A) market. The report includes in-depth analysis of the 33 firm offers, 18 possible offers, five formal sale processes and one strategic review announced in H1 2019 and provides insight into what we might expect to see in 2019 and beyond. Highlights of the report: • Detailed statistical deal data for H1 2019, including transaction structure and consideration • Comparative overview of H1 and H2 deal value and deal volume across a five-year period • In-depth analysis of hostile takeovers, mandatory offers and competing bids in H1 2019 • Summary

ARCHIVED: This content was published in 2020 and is not maintained. The Market Standards trend report provides in-depth analysis of the 12 firm offers and ten possible offers made for Main Market and AIM companies subject to the Takeover Code in H1 2020. It includes insight into public M&A trends and what we might expect to see in H2 2020 and beyond. What does the Market Standards trend report cover? Topics covered include: • deal value and volume • private equity deal activity • UK and foreign bidder activity • industry focus • deal structures • post-offer statements of intention • shareholder activism • coronavirus (COVID-19) issues and impact • legal and regulatory developments What are the highlights from the report? The economic uncertainty