UK Legal Industry Attracting More Foreign Bidders

Thu, 03 Jun 2010

Following the recent increase in transatlantic mergers, new figures from City law firm Wedlake Bell have found that there has been a significant increase in the number of overseas buyers targeting UK law firms . Wedlake Bell’s research reveals that 44 per cent of mergers and acquisitions deals which have targeted UK listed companies in the past two years have been backed by overseas buyers. It is a trend which shows no signs of abating, with the proportion of foreign bidders up to 53 per cent during the first quarter of this year – almost twice the 27 per cent of the first quarter of 2008.

The figures indicate that despite the recent onset of a recession in the UK, foreign investors continue to see a bright future for the UK economy, and believe the legal industry to be strong in the UK. Despite business secretary Vince Cable considering proposals to give the government the right to veto takeovers which are not in the national interest, partner and head of the corporate team at Wedlake Bell, Tim Bird, believes the UK’s legal system remains conducive to corporate takeovers.

Americans constitute the likeliest foreign bidders for UK solicitors firms, accounting for 30 per cent of all foreign bids in the past two years, while emerging markets such as China and India are also significant.
add to favouritesnewsletterlink to this pagesend to friendpost comments

Link to this page

Copy and Paste the following HTML into your page.