Dealmaking among UK firms drops to lowest level in four years, figures show

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The level of dealmaking among firms across the UK dropped to the lowest level in four years in June amid a slow recovery of business confidence, according to new official data. The focus now for business owners is the upcoming autumn Budget and the looming threat of an increase in capital gains tax, as sellers rush to get deals over the line James Wild, head of M&A at RSM UK The ONS also found that the value of dealmaking dropped across all areas over the latest quarter. James Wild, partner and head of M&A at RSM UK, said: “While subdued deal activity continued in the second quarter of 2024, we’re increasingly seeing a renewed confidence among businesses and a willingness to invest, driven by stabilising economic conditions and the certainty a new government brings. “For those that don’t manage to complete deals ahead of October 31, their decision of whether to sell up or press pause and hold onto their business will weigh heavily on the outcome of the Budget.” The latest figures do not include the high-profile £3.6 billion deal which will see Czech billionaire Daniel Kretinsky’s EP Group take control of Royal Mail and its parent firm.