Foreign buyers are fueling an unprecedented wave of corporate takeovers in the United Kingdom, pushing the total value of deals targeting British companies past $231 billion so far in 2026 — a 210% increase compared to the same period last year, according to data from LSEG.
Major transactions this year include bids for British firms Intertek, Schroders, and the food division of Unilever, along with a June offer from U.S.-listed Ingredion for Tate & Lyle.
Intertek’s board approved a £9.4 billion ($12.7 billion) buyout last month by private equity firm EQT. According to LSEG data, that deal marks the largest private equity acquisition of a British company since the 2007 purchase of healthcare group Alliance Boots.
One major factor drawing buyers to UK companies is their relatively low share prices. The FTSE 100 index has been trading at a discount compared to both European and American stock markets. British equities have become even less expensive relative to U.S. stocks since the start of the Iran war, though they are not considered as undervalued as they were in 2024.
Dominic Ross, a partner at Clifford Chance, described the current environment this way: “We are continuing to see opportunistic, strategic consolidation, with clients pursuing large and complex deals that move the needle and which will make a material difference to their business.”
Beyond stock valuations, the UK’s well-established and predictable regulatory environment for corporate takeovers is also attracting foreign interest. “The UK is a tried and tested market,” Ross noted.
The $231 billion in UK-targeted deals recorded so far this year has only been surpassed once before in LSEG’s records going back to 1980. The current total is also approaching the $194 billion recorded for the entire year of 2025.
In terms of global share, UK-targeted mergers and acquisitions now account for more than 8% of all worldwide deal announcements so far in 2026 — the highest year-to-date proportion since 2015.
Foreign takeovers are the primary engine behind those numbers, totaling more than $197 billion — the highest year-to-date figure since LSEG began tracking the data in 1980. American buyers alone account for more than half of all foreign acquisitions of UK companies this year.
“Much of the activity we are seeing is inbound into the UK from the U.S., perhaps due to the continued perception that UK-listed stocks are relatively cheaper,” Ross added.
Foreign takeovers now represent 86% of all UK dealmaking by value so far this year, up from 75% at the same point last year and the highest proportion ever recorded.
Despite the dramatic figures, UK mergers and acquisitions as a share of the country’s overall economy remain below historical peaks. In 2000, deal activity represented 26% of UK GDP, according to LSEG and the Office for National Statistics. That figure stood at 5% in 2025 before jumping to 14% in the first quarter of 2026.
