UK public markets update

Industry

Uptick in Rule 2.7 Announcements in the latest quarter indicating a rise in public M&A activity in the UK.

08.05.24

Q1 2024 saw a spike in Rule 2.7 Announcements, signalling a boost in UK public M&A activity. The uptick reflects a burgeoning trend in the market, with a significant increase of verification activity on the Atticus platform year-on-year.

January 2024 kicked off with four notable Rule 2.7 Announcements, including The Property Franchise Group plc for Belvoir Group plc’s £103.5 million offer for Belvoir Group plc.

February 2024 maintained the momentum with multiple Rule 2.7 Announcements verified on Atticus. Highlights included GXO Logistics’ £762 million bid for Wincanton plc.

March 2024 witnessed continued activity, with standout deals in banking and telecommunications. Nationwide Building Society’s £2.9 billion offer for Virgin Money UK plc captured attention, alongside competing offers for Spirent Communications plc.

So what?

These transactions underscore an increased appetite for public M&A, with positive signs of a resurgence in public markets activity after a period of relative inactivity. This trend not only reflects a mood change in the UK M&A landscape, but also signifies the critical role of technology platforms, like Atticus, in shaping and facilitating complex, time-sensitive transactional processes.

As the pace of deal-making accelerates, stakeholders across industries are increasingly leveraging Atticus to capitalise on opportunities and navigate potential risks effectively. To learn more about how Atticus supports our clients to streamline their M&A documents, request a demo with one of our experts.

This note is designed to provide a general summary of some of the marquee deals seen in the UK market (including those where Atticus may not have been utilised).