London, United Kingdom. Foreign bids for UK companies have pushed the total value of offers to more than $231 billion so far in 2026, up 210 per cent from the same point last year. The total puts Britain on course to surpass previous records for dealmaking, according to data cited in the report.
Major deals drive activity
Bids for Intertek, Schroders and Unilever’s food unit are among the largest deals involving UK companies this year. US-listed Ingredion also made an offer for Tate & Lyle in June.
Intertek’s board agreed last month to a £9.4 billion ($12.7 billion) takeover by private equity group EQT. According to LSEG data, it is Britain’s largest private-equity takeover since the 2007 acquisition of healthcare group Alliance Boots.
Cheaper valuations attract buyers
One driver of UK dealmaking has been lower share prices, with the FTSE 100 trading at a discount to European and US stock markets. British stocks have become cheaper relative to US stocks since the start of the Iran war, although they are not as low-valued as they were in 2024.
“We are continuing to see opportunistic, strategic consolidation, with clients pursuing large and complex deals that move the needle and which will make a material difference to their business,” said Dominic Ross, partner at Clifford Chance.
Stable takeover environment
Another reason bidders are targeting the UK is the country’s predictable environment for takeovers.
“The UK is a tried and tested market,” Ross said.
The $231 billion of deals involving a UK target at this point in the year has been exceeded only once before since LSEG records began in 1980. The total is 210 per cent higher than the amount recorded at the same time last year and is close to the $194 billion total recorded for the whole of 2025.
Global share of M&A rises
By value, UK-targeted mergers and acquisitions account for more than 8 per cent of total global M&A announcements so far this year, the highest year-to-date share since 2015.
LSEG said this year’s UK M&A figure has been driven by foreign takeovers, which total more than $197 billion, the highest year-to-date total since records began in 1980.