Bringing you the latest merger and acquisition opportunities.
Welcome to the 116th edition of The Corporate Finance Network’s monthly Network Opportunities newsletter.
On 13th June 2022, the pound tumbled to a two-year low against the US dollar after the UK economy contracted in April, missing forecasts and confirming the recovery has stalled since January as surging prices hit household spending and business activity.
Sterling slumped by as much as 1.5 per cent to $1.214, as the latest gloomy economic news was compounded by a broad rally for the dollar to push the exchange rate to levels last seen in May 2020. The pound, which has held up better against other major currencies, hit a one-month low against the euro on Monday.
Gross domestic product fell 0.3 per cent between March and April, data published by the Office for National Statistics showed on Monday, below the 0.1 per cent increase forecast by economists polled by Reuters.
While not good news for many this does give more buying power for overseas acquirers, something to consider for UK-based companies with an attractive takeover proposition either as a geographical market entrant or to gain access to a new product, service or technology.
As ever, please share our Network Opportunities with your professional contacts, acquisitive clients, and anyone else that can help generate deal flow amongst all our members.
Inside this issue.