THE amount of money UK firms spent on buying other businesses in the country fell to a 10-year low in the third quarter, official figures show.
THE amount of money UK firms spent on buying other businesses in the country fell to a 10-year low in the third quarter, official figures show.
Custom byline text:
MARK WILLIAMSON
However, the value of deals involving overseas corporations as buyers or bid targets rose sharply.
The Office for National Statistics (ONS) said UK firms invested just £500 million in domestic mergers and acquisitions activity in the three months to September, down around 66% from the £1.5 billion spent in the same period last year. By contrast, domestic mergers and acquisitions activity was worth an average of more than £5bn a quarter in 2008.
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