UK M&A activity falls in H1 as volume of deals slumps

Number of deals down 21% year-on-year

clock • 2 min read

M&A activity in the UK for the first half of 2023 has fallen year-on-year, as macroeconomic headwinds and tight lending markets continue to take a toll on the volume of deals completed.

According to PwC's latest Global M&A Industry Trends report, the UK saw a total of 1,902 deals during the period, compared to 2,408 in H1 2022, a drop of 21%. However, while year-on-year volume is down, deal activity is still at or above 2018-2019 levels.  The report found there was a total of £42.8bn worth of UK deals in H1 2023, a 55% drop when compared to £95bn in H1 2022, due to fewer larger deals and shrinking average deal size. The number of deals greater than £1bn in value dropped from 19 with a combined value of £46.7bn in H1 2022 to seven deals with a combined value of £15.4b...

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