UK M&A value on track for record £347 billion in 2026 as corporate buyers dominate

Industry
โดย PitchBook News·Read original
Summary · why it matters

UK M&A value is tracking to a record high in 2026, reaching £178.9 billion in the year to July 7 and putting the market on pace for an annualized total of around £347 billion, which would eclipse the prior high of £309.2 billion set in 2015, according to PitchBook data. The top 10 deals accounted for roughly 52% of overall M&A value, with eight of those 10 largest transactions struck by strategic acquirers in the first six months, led by McCormick's $44.8 billion merger with Unilever's food business in March. Sponsor acquisitions made up just 33.1% of overall UK deal value in the first half of the year, the second-lowest share since 2014, and PE accounted for only 15.1% of the value of the 10 largest deals, as firms like EQT took Intertek private for £10.9 billion and TDR Capital acquired Escode for £3.09 billion. The gap stems from financing, as roughly two-thirds of McCormick's Unilever Foods combination was funded in stock, a currency PE funds cannot offer, while corporate acquirers rely on balance-sheet cash and equity to pursue scale that would once have drawn sponsor competition.

Impact on stocks 6

Consumer Staples▲ · 3 stocks
McCormick & Company Incorporated
MKC
▲ PositiveCapitalrelevance

McCormick's $44.8 billion merger with Unilever's food business is a major strategic acquisition, likely to boost scale and market position.

Unilever PLC
UNLYD
▲ PositiveCapitalrelevance

Unilever is selling its food business for $44.8 billion, a large divestiture that could unlock value and streamline operations.

Industrials▼ · 1 stocks
Intertek Group PLC
ITRK
▼ NegativeCapitalrelevance

Intertek is being taken private by EQT for £10.9 billion, meaning public shareholders will be cashed out at a premium, but the company ceases to be publicly traded.

Energy Transition & Power Demand▲ · 1 stocks
Financials▲ · 1 stocks

Off-coverage companies 2

EscodePrivate▼ Negative
Capitalrelevance

Escode is being acquired by TDR Capital for £3.09 billion, resulting in delisting for public shareholders.

TDR Capital LLPPrivate± Mixed
relevance

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