Foreign firms snapped up £7.8 billion worth of UK companies over the latest quarter as the recent rise in international owners continued, according to official figures.
The Office for National Statistics (ONS) said the value of inward mergers and acquisitions – where foreign companies buy UK firms – increased by £1.1 billion against the previous quarter.
It came despite an overall reduction in the number of UK merger and acquisition (M&A) deals over the three months to the end of September.
During Quarter 3 (Jul to Sep) 2024 there were 436 mergers and acquisitions (M&A) in total, fewer than the 479 in the previous three months.
The monthly total fell sharply from 179 in July 2024 to 130 in August and 127 in September.
➡️ https://t.co/OViDxMW3kR pic.twitter.com/tiq9P2ZLel
— Office for National Statistics (ONS) (@ONS) December 3, 2024
Deals completed over the period included Carlsberg’s move to take complete control of its brewing joint venture with Marston’s for £206 million.
Another notable deal was the £788 million takeover of FTSE 250 doors and windows specialist Tyman by US rival Quanex Building Products.
However, the value of deals involving UK firms or investors as buyers was down against the previous quarter.
The statistics body found that outward M&A deals – those where UK companies snap up businesses from overseas – was reported at £4 billion for the quarter, down £200 million against the previous period.
These deals included AstraZeneca’s deal to buy Amolyt Pharma – a company which makes treatments for endocrine diseases – for 1.05 billion US dollars (£830 million).
It also found deals involving UK firms buying other UK firms dropped to £2.1 billion from £3 billion.
In total, there were 436 merger and acquisition deals which took place over the quarter. This was around 10% lower than the second quarter of 2024.
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