Last year was the largest for global M&A volume since the financial crisis – a massive $3.6 trillion according to financial software company Dealogic. With debt cheap, private equity firms awash with cash and overseas companies on the lookout for deals this trend has continued apace. The first half of the current year, when including the Shell/BG deal has led to a more than doubling of the value of total deals in the UK to over $200bn. With the oil price now looking range bound there is also an expectation that larger, well financed operators will seek to acquire weakly capitalised rivals with strong assets. In recent weeks we have seen ubiquitous confectionery firm Thorntons fall to Italian giant Ferrero, software group Anite is to be acquired by Dutch rival Keysight and well known cooker brand AGA is currently in talks with US giant Middleby Corporation. Moreover, Ladbrokes and Coral are in discussions to create what would be the largest bookies in the UK. Hopefully this increased interest in UK companies will help drive the equity market further in the second half of the year.
Here is the Monthly view: WH IRELAND WHISPY2015_07
