Deutsche Bank sees UK M&A activity rising after £180 billion in announced deals through June
DB•Deutsche Bank said announced deals involving UK targets topped £180 billion by the end of June 2026, about three times the total at the same point in 2025. Its survey found 87% expect UK M&A to rise over the next 12 months.
1. UK deal activity
Announced deals involving UK targets topped £180 billion by the end of June 2026, about three times the total at the same point in 2025, with a run of large-cap public transactions driving the increase. Completed UK M&A exceeded £65 billion in the fourth quarter of 2025.
2. Survey expectations
Deutsche Bank’s Raised in London survey found 87% expect UK M&A to rise over the next 12 months, while 71% see buyers as more positive than in 2025. Private equity remained a key catalyst, with 88% expecting more takeovers of UK-listed companies as financing conditions improve.
