Deloitte UK EU国民投票がもたらす英国でのM&Aへの影響【英語】
Global investors often use the UK as the gateway for expansion into Europe. Since the start of 2016, M&A deal data shows a sharp decline in UK M&A deals.
Impact of the EU referendum on M&A activity in the UK
This paper explores the factors contributing towards the current decline in M&A activity, including the shroud of uncertainty created by the upcoming referendum. The data highlights a more pronounced decline in M&A activity in the UK than the rest of the EU zone, suggesting Brexit fears are playing strongly in the minds of investors. The paper also analyses M&A activity during recent events which mirror the current political uncertainty: the Scottish referendum in 2014 and UK general election in 2015.
- During the first quarter of 2016, domestic deals have nearly halved from $15.8bn in the prior year to $9bn in the current year.
- Outbound M&A activity also fell from $10.4bn in the prior year to £4.3bn in the current year
- Inbound deals have held up, propped up by a handful of large deals. The inbound volumes fell from $51.4bn in Q1 2015 to $30.4bn in Q1 2016.
- Deal values in Europe increased by 40% Q1 of 2016 compared to the same period last year, however in the UK it fell by 44% during the same period.