International business negotiations dominate UK deals
Cross-border mergers and acquisitions currently worth $84.4bn
The value of international business negotiations so far this year has surpassed the revenue generated by domestic deals for the first time, it has been revealed.
New research published by Dealogic has shown that the value of mergers and acquisitions involving UK firms and their overseas rivals has reached $84.4 billion (£53.7 billion) for the year to date.
This figure is significantly higher than the value of domestic takeover deals, which is currently worth $61.6 billion.
Kraft's £11.6 billion takeover of Cadbury's earlier this year sparked a flurry of deal activity, with many international firms expanding into the UK market.
International Power is due to be taken over by French energy company GDF Suez in a deal worth £11.2 billion, while automotive parts maker Tomkins is set to be taken over by Onex and the Canada Pension Plan Investment Board.
US firms accounted for a large proportion of international deals, with takeovers worth $45.3 billion, while Hong Kong and Germany also proved to have a significant number of buyers.