Brexit surprise: British businesses are buying up overseas rivals
"It might seem counter intuitive given that the weak pound in theory makes them expensive, but there could be a reason. Buying overseas companies provides some protection against an economic disaster in this country
How’s this for counter intuitive data. Despite Brexit, and the pound’s status as the currency markets’ favourite punch bag, British companies went on a shopping spree in the months after the referendum.
According to the latest figures from Thompson Reuters, post-Brexit vote (from June 24 to March 13) deals involving UK companies as the target (inbound M&A) totalled $111bn (£91bn). Deals involving UK companies as bidder (outbound M&A) came in at $121.5bn, a 33 per cent increase." (The Independent Jan 2018, click here to read the full article)
We are not economists but it seems to us many companies could be hedging their bets, whatever the reason as eternal optimists our money is on the UK defying all the doom & gloom forecasts.