Latest UK M&A Statistics for Q2 2023
The UK Office for National Statistics have just released their latest statistics for Q2 2023. Below is the update on Mergers and Acquisitions (M&A) involving UK companies for Q2 2023, during the period April to June 2023.
Please note that these include only transactions that result in a change of ultimate control of the target company and have a value of £1M or more.
Headline Statistics for UK M&A Q2 2023
Provisional estimates for Q2 2023 indicate slightly subdued numbers of domestic and inward M&A, although the number of outward acquisitions increased when compared with the previous period, Q1 2023.
Total M&A was 450 in Q2 2023; 58 transactions fewer than in Q1 2023 (508).
Value of inward M&A in Q2 2023 was £7.4Bn; £4.4Bn lower than in the previous quarter (£11.8Bn).
Total value of outward M&A in Q2 2023 was £2.3Bn; £0.6Bn lower than in Q1 2023 (£2.9Bn).
Value of domestic M&A during Q2 2023 was £2.4Bn, £0.3Bn lower than in Q1 2023 (£2.7Bn).
*N.B. These numbers are provisional and may be subject to upward revisions until Q2 2024.
Monthly UK M&A Q2 2023
M&A activity dropped substantially at the start of the global pandemic in 2020 but strengthened during 2021 and has remained relatively consistent during 2022. Provisional estimates indicate some weakening at the start of 2023, although these estimates are subject to revision, the direction of which is more likely to be upward than downward.
The provisional total numbers of monthly domestic and cross-border M&A fell slightly during April 2023 (163), falling further during May (142) before stabilising in June (145) 2023.
The Bank of England’s Agents’ summary of business conditions for Q2 2023 reported that
“…business services stayed resilient. Overall activity continued to recover owing to improved confidence about the economic outlook. By contrast, contacts that specialise in mergers and acquisitions and other corporate transactions continued to report weaker revenue levels owing to higher funding costs weighing on the number of such corporate decisions… investment intentions continued to be subdued owing to higher investment costs, some reduction in returns to capital investment and on-going uncertainty about the economic outlook. Corporate credit demand remained subdued, especially across property development, mergers and acquisitions, and investment”.
The Bank of England
Inward UK M&A Q2 2023
The provisional estimated value of inward M&A in Q2 2023 fell to £7.4Bn, a decrease of £4.4Bn compared with the previous quarter (£11.8Bn) and £4.7Bn lower than for the same period the previous year (£12.1Bn). N.B. The high total value (£32.9Bn) of inward M&A included a few large acquisitions, which were valued in excess of £1Bn.
Value Inward UK M&A Q2 2023
Number Inward UK M&A Q2 2023
In Q2 2023, there were 169 completed inward M&A transactions, a small decrease of 2 on the previous quarter (171) and 29 fewer than in the same period 2022 (198).
Outward UK M&A Q2 2023
Value Outward UK M&A Q2 2023
In Q2 2023 the value of outward M&A was £2.3Bn, £0.6Bn lower than in the previous quarter (£2.9Bn) and £2.4Bn lower than in the same period 2022 (£4.7Bn).
One notable outward M&A, which completed in Q2 2023, was the acquisition by BP Plc of Travelcenters of America Inc.
Number Outward UK M&A Q2 2023
There were 68 outward acquisitions in Q2 2023, 11 more than in the previous quarter (57) and 6 fewer than in the same period 2022 (74).
Domestic UK M&A Q2 2023
Value Domestic UK M&A Q2 2023
Value of domestic M&A in Q2 2023 was £2.4Bn, a £0.3Bn decrease compared with Q1 2023 (£2.7Bn) and £1.1Bn less than in the same period 2022 (£3.5Bn).
Number Domestic UK M&A Q2 2023
There were 213 domestic M&A deals during Q2 2023, 67 fewer than in the previous quarter when 280 were recorded, and 41 fewer than in the same period 2022 (254).
The above data for M&A Statistics for Q2 2023 was extracted from the Office of National Statistics; full details here.
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Tags: M&A Statistics, M&A Stats, Office for National Statistics, Q2 2023, UK
