Nothing but negotiation

The Gap Partnership

Sales negotiations lead to £2.4bn of business

Businesses are now showing a willingness to enter into M&A talks.

15 December 2010

Sales negotiations taking place between UK companies led to £2.4 billion of business being done earlier this week, it has been reported.

Rhys Phillips, head of mergers and acquisitions (M&A) for the UK and Ireland told the Guardian that a larger number of firms are showing sentiment to conduct talks with other enterprises.

"[There are] a lot more conversations taking place because companies have all this money flushing around and are looking for a reason to spend it," he stated.

Deals that have been completed include M&A agreements that have involved GlaxoSmithKline, Yule Catto and Reckitt Benckiser.

Glaxo - the pharmaceutical firm - announced it had agreed to buy the biggest sports nutrition business in Europe, Maxinutrition, for £162 million from Darwin Private Equity.

As a result of the resurgence in the number of deals being made, the FTSE 100 closed just below a year high at 5860 on Monday (December 13th), up by 47 points.

Last week, the Daily Telegraph noted British mobile retailer Phones 4U was in business negotiations with BC Partners regarding its sale.

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