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The What’s Market team at Practical Law has published a report on some of the key highlights and trends in UK public M&A activity over the course of the first half of 2014. The report is based on a review of 22 firm offers announced in the first half of 2014 for Main Market and AIM companies that were subject to the Takeover Code, as covered in What's Market, and possible offers for Main Market or AIM companies (subject to the Code) where a potential bidder was subject to a put up or shut up deadline in the first half of 2014.

Although overall bid activity has increased when compared to the same period in 2013, the number of firm offers for AIM companies has reduced slightly (there were 12 firm offers announced for AIM companies in the first half of 2014 compared to 14 firm offers announced during the same period in 2013).

The report covers areas including: the structure of the deals; sector trends; consideration offered; conditions and pre-conditions; inducement fees; the use of irrevocable undertakings; and profit forecasts.

This article was prepared by the What's Market team at Practical Law. For further information on the report, please contact Hilary Owens or Sarah Hassan.

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