M&A Activity Rises Among UK-Based Oil, Gas Firms
Source: Oil & Gas Journal, Uchenna Izundu (3/11/09)
". . .the level of M&A activity in the UK rose despite the slowdown in pace of global M&A deals."
Oil prices dropping more than 60% since the peak of $147/bbl in July 2008 diminished the value of oil and gas firms, and opened cheaper deals for those who are cash rich enough to weather the downturn.
FBD said the level of M&A activity in the UK rose despite the slowdown in pace of global M&A deals. The value of these transactions involving London Stock Exchange-listed companies leapt by 183% to £2.1 billion in 2008. In volume terms, they rose to 52 deals, representing a rise of 73%.
In 2008, the industry's global M&A deals increased by more than 51% on the previous year. However, they fell by 18% in value terms to £146 billion.