Mergers and acquisition activity lags behind UK
The latest Deal Drivers report, published twice a year by PKF, reveals that both the number and value of transactions across the UK have surged so far in 2010. A total of 644 deals worth nearly 62.7 billion were announced in the first three quarters of this year, representing an increase of 50 per cent and 70 per cent respectively on 2009.
The Scottish market has also been more active than last year, but corporate activity remains flat relative to the rest of the UK. Though the report does not break out figures for individual regions, Frank Paterson, Glasgow-based partner with PKF, said there were as yet no signs of a significant rise in mergers and acquisitions north of the Border.
"We have had one or two major deals, but the availability of cash across the board for smaller deals is definitely down," he said.
"It is very difficult at the smaller end of the chain."