Peel Hunt, the investment bank, has released new analysis showing that there were clear signs of intensifying M&A activity in the small and mid-cap part of the UK market prior to the break out of war in Ukraine, while prospective bidders have been adopting a wait-and-see approach most recently.
The withdrawal of Spectris’ possible offer for Oxford Instruments as a direct consequence of uncertainty arising from the conflict in Ukraine highlights a significant challenge to the implementation of M&A ambitions over the coming weeks and months, as acquirers re-assess their investment cases in the light of war in Europe.
Five UK plcs entered offer periods through February: Playtech plc, John Menzies plc. Filta Group Holdings plc, Clipper Logistics plc and Oxford Instruments plc.
849 public M&A transactions have been announced globally in the last twelve months, with a total transaction value of c.$1,176bn.