The Great British Takeover Tops $60 Billion After Mitie Deal

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Or sign-in if you have an account.48rcixp(xoljqm()2ce4iva0_media_dl_1.png Bloomberg(Bloomberg) — The UK stock market is losing the equivalent of more than $2 billion a week to takeovers of London-listed companies, with Mitie Group Plc the latest name to be snapped up.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountOCS Group International Ltd. on Tuesday agreed to buy its British facilities management rival for £3.1 billion ($4.2 billion). The transaction comes less than a week after ABB Ltd. struck a $5.5 billion deal to acquire industrial components company Rotork Plc, and US buyout firm Arlington Capital Partners said it would purchase photonics provider Gooch & Housego Plc for around £400 million including debt.These add to the flurry of UK takeovers that’s raising fresh concerns about the future of London as a global business hub. Some of the city’s most historic names, including asset manager Schroders Plc and ingredients maker Tate & Lyle Plc, have this year accepted offers from overseas or private buyers drawn to the UK by cheaper valuations relative to other regions. Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againIn total, the value of mergers and acquisitions targeting UK and Irish companies listed in London has risen almost 130% this year to $64 billion, according to data compiled by Bloomberg. It puts 2026 on course to be the busiest year in more than a decade for such takeovers. The numbers could rise further in the weeks ahead, with budget carrier EasyJet Plc, warehouse landlord Segro Plc and energy sales and distribution group DCC Plc, all subjects of ongoing, multibillion-pound pursuits.This is happening at the same time as London struggles to attract its next generation of blue-chip companies to list in the city. Little more than $685 million has been raised via initial public offerings in the UK capital this year, the Bloomberg-compiled data show, with the only sizeable IPO coming from Uzbekistan’s national investment fund, UzNIF.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.