UK races up the M&A league tables in 2024
Inditex up 4%, boosts retailers
Most major sub indexes trading in positive territory
S&P 500 futures up 0.2%
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UK RACES UP THE M&A LEAGUE TABLES IN 2024
M&A is picking up in earnest this year, with an annual rise of 23% in the value of worldwide deals between January and May, according to a monthly report from LSEG Lipper. The U.S. is topping the league tables in terms of where most of the action is happening, bagging the largest share of deals since 1998, LSEG said. But the UK has roared up to second place, and accounted for 34% of the total $259 billion in European M&A last month.
This was Britain's largest share of deal-making in the region since 2015, LSEG said.
BHP Group BHP.AX might have ditched its $47-billion bid for London-listed miner Anglo American AAL.L, but there are plenty more UK-centric deals on the radar right now. DS Smith SMDS.L, broker Hargreaves Lansdown HRGV.L and Royal Mail parent IDS IDSI.L, along with cybersecurity company Darktrace DARK.L have all received - but not necessarily accepted - takeover offers.
A general election is due next month and sterling is around its highest on a trade-weighted basis since the Brexit referendum in June 2016 GBPTWI=BOEL. The FTSE 250 index .FTMC is around two-year highs, but still trading at a sizeable discount to global shares .MIWD00000PUS, according to LSEG/Datastream data.
(Amanda Cooper)
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($1 = 0.7830 pounds)
GLOBAL M&A ACTIVITY May LSEG report https://reut.rs/45disLL
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