November 14 - Business Credit Management (U.K.) - Despite the United States sub-prime loan crisis, US firms continues to acquire more UK companies than any other nation as UK M&A activity defied expectations with a robust third quarter, according to new research from Grant Thornton Corporate Finance.
In Q3 2007, both foreign acquisitions in the UK and UK acquisitions abroad were of greater value than during the same period last year, with UK companies reporting their highest third quarter offshore M&A spend since 2000. Meanwhile domestic M&A also held firm, dropping just 4% in volume on the same period in 2007 despite fears of a significant downturn due to the present perceived illiquidity in the market.
David Brooks, Head of M&A at Grant Thornton Corporate Finance, said the US was still the central driver of UK cross border M&A, with £26.7 billion spent by UK companies on US businesses and an almost equal amount spent in the opposite direction during the first nine months of 2007. Read More.
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