Cross-border acquisition activity targeting UK-listed companies has surged in 2026, with announced deal volumes reaching $192 billion year-to-date, putting Britain on course for one of its strongest years for mergers and acquisitions on record, according to a report by Reuters.
A series of high-profile approaches for UK corporates has fuelled the increase, including takeover interest in Intertek, Schroders and Unilever’s food division. Last week also saw Ingredion agree an offer for Tate & Lyle.
Among the standout transactions, Swedish buyout firm EQT is pursuing a proposed £9.4bn acquisition of Intertek, a deal that would rank as the largest UK private equity takeover since the 2007 buyout of Alliance Boots, according to LSEG data.
Advisers said relatively low UK equity valuations continue to attract overseas acquirers, particularly from the United States. The FTSE 100 has traded at a discount to both European and US markets, making British-listed businesses increasingly attractive to strategic and financial buyers.
Dominic Ross, partner at Clifford Chance, said dealmakers are continuing to pursue large-scale strategic transactions capable of materially reshaping businesses.
The UK’s established regulatory framework and reputation as a predictable takeover market have also contributed to the uptick in activity. Data from LSEG showed the current year-to-date total has only been exceeded once since records began in 1980 and already approaches the full-year figure recorded in 2025.
Foreign-led transactions have accounted for the vast majority of activity, with inbound deals totalling $165bn so far this year – a record level for the period. US bidders represented more than half of overseas acquirers targeting UK companies.
Overall, foreign takeovers made up 86% of UK M&A by value in 2026 to date, compared with 74% during the same period last year, underscoring the dominance of international buyers in the current market cycle.
