UK companies expenditure on acquisitions abroad in Q2 2011 reached its second highest since Q1 2008 spending total of £10.2bn even though it represents a fall of 51% from £20.7bn. The 6 month figure of over £30bn is also above any 6 monthly period in 2009 or 2010. The number of acquisitions fell from 58 to 41.
The number of inward acquisitions increased from 43 to 46 and to a value of £8.5bn in the second quarter. The value of domestic acquisitions rose from £1.3bn in Q1 to £2.2bn in Q2 2011. The number of acquisitions fell from 68 to 59.
The largest transaction abroad by a UK company was the acquisition of Pride International of the USA by Ensco Plc for about £4.6bn. The acquisition of Netto Foodstores by Wal-Mart Stores Inc for £778m was a significant transaction in the Uk by the US company. Boparan Holdings acquisition of Northern Foods for £343m and Carillion acquisition of EAGA Plc for £298m were other significant transactions in the UK by UK companies.
The data is often affected by one or two very large transactions which may skew the trends underlying the data.
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