Office for National Statistics with latest Merger & Acquisition report 7 June 2016
- inward M&A transactions in Q1 £49.4bln, highest since Q2 2007
- domestic M&A Q1 transactions £11.6bln, highest since Q4 2008
Healthy inflows helping to find a few GBP buyers again in these fragile markets.
The stats fly in the face of the consensus Brexit concerns are preventing/postponing investment in the UK.
There were 29 completed inward M&A (foreign companies acquiring UK companies) in Quarter 1 (Jan to Mar) 2016, down from 49 in Quarter 4 (Oct to Dec) 2015
Although the number of transactions in Quarter 1 (Jan to Mar) 2016 has fallen compared to the previous quarter, the value of these transactions was £49.4 billion, the highest value recorded since Quarter 2 (Apr to June) 2007 (£51.5 billion).
During Quarter 1 (Jan to Mar) 2016 there were 22 successful acquisitions made abroad by UK companies, the lowest number of outward M&A reported since Quarter 4 (Oct to Dec) 2013 (11 transactions).
Full report from the ONS here
GBPUSD 1.4580 from 1.4525 EURGBP 0.7795 from 0.7825.
Cable offers/res into 1.4600 should hold for the moment. EURGBP demand/support into 0.7785 and 0.7750
