Overview

Highlights from our August Valuation Barometer, covering deals and valuation multiples in UK M&A from July 2020.

Highlights

• The last month saw a continuation of the recovery in post-COVID deal volumes, with M&A transactions involving UK companies increasing 12% to 245 from 219 in June.
• The gross deal value was also up materially – we calculated that transactions valued at an aggregate £18.9 billion were announced or completed during the month.
• Despite the month-on-month improvement, volumes remain subdued relative to ‘normal’ levels – July 2020 deal completions were down 32% against July 2019.

Spotlight Transactions

• Swiss Re’s sale of its ReAssure Group plc subsidiary to Phoenix Group Holdings plc for £3.2 billion.
• The merger of Vodafone Hutchison Australia (VHA) and TPG Telecom, which values VHA at A$7.5 billion.
• The acquisition of Centrica’s North American subsidiary Direct Energy by US listed NRG Energy for $3.6 billion.
• Resolution Life’s takeover of banking and insurance services provider AMP Life for $2.1 billion.

Access to the full list of deals in the August Valuation Barometer is reserved for members of the MarktoMarket Data Co-operative. 

For the full list of previous 2020 Barometers – visit our reports page.