Deals
Dealmakers Get Brexit Blues in ‘Biggest Demerger in History’
- ‘It is likely we will see a significant slowdown in M&A.’
- Takeovers, share sales in Europe at lowest level since 2012
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European dealmakers hoping today would open the floodgates for mergers and share sales are bracing for a longer drought.
Britain’s decision to leave the European Union “will be the biggest demerger in history,” Richard Cranfield, a corporate partner at Allen & Overy LLP, said. “A healthy M&A market is strongly driven by confidence. Given the period of uncertainty we’ve just entered following the leave vote, it is likely we will see a significant slowdown in M&A.”