Is this the beginning of an M&A boom in the UK?

After a quiet year for M&A in 2016, particularly in the FTSE 250, Neptune’s Holly Cassell believes we could be in for a much busier 2017.

UK M&A activity is really gathering steam, with new deals being announced at an encouraging frequency. In fact, we’ve had the best start to the year since 2008, with total inbound and outbound British deal activity reaching a nine-year high. This has been particularly prominent in the mid-cap space, which has seen the lion’s share of the activity so far.

Is this the beginning of a bubble? We would strongly oppose this view. 2016 saw only one mid-cap deal complete, with the owner of Argos being acquired by Sainsbury’s. The current momentum is the result of real pent-up demand in the system. Given these dynamics, we would expect to see M&A volumes in excess of market averages in 2017, particularly further down the market cap spectrum.

UK M&A Boom



DB transfers: Half of advisers use contingent charging

A survey of advisers has revealed that half still charge on a contingent basis for defined benefit pension transfers. A poll conducted by AJ Bell shows that 50 per cent of advisers conducting DB transfers are getting clients to pay for them by paying a percentage of the transfer value, and only receive payment if […]

Neptune video: Indian valuations and Modi’s pro-investment agenda

Kunal Desai, Head of Indian Equities, discusses his expectations for the Indian market and highlights the key indicators that he is watching for 2015.

In the video, Kunal addresses:

• Indian equity valuations and the importance of stock selection in gaining exposure to the earnings upgrade cycle

• The BJP’s strengthening ambition in its pro-reform, pro-investment agenda


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