M&As 'to hit 17-year low'

22/09/2009 M&As 'to hit 17-year low'

The number of mergers and acquisitions (M&As) is on course to drop to its lowest level since 1992, it has been predicted.

A study by audit jobs provider Grant Thornton found that 303 M&A deals have been completed since the start of July, 32 per cent less than during the second quarter of this year when the total was 449.

It was 54 per cent lower than the 546 recorded in the third quarter of 2008.

Commenting on this, head of M&A David Brooks stated: "We have seen the lowest number of foreign acquisitions of UK targets since 1992, while the number of domestic deals is the lowest it has been since 1991."

However, he said many firms have been building up their balance sheets in anticipation of buying soon at favourable prices, meaning a rise in transactions should occur soon.

Earlier this month, government figures revealed that the total of domestic M&As had fallen to a 40-year low, with just 41 in the second quarter, 142 less than in the same period in 2008.

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