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Takeover Bargains Turn U.K. Into Hotbed of Pandemic Dealmaking

  • Lower equity valuations drive M&A activity in U.K. market
  • Entain named as top British takeover target for 2021
Commuters Return To London, Just Not on Mondays
Photographer: Chris Ratcliffe/Bloomberg

Investors are tracking a number of undervalued U.K. companies, including household names in gambling, energy and fashion, as some of the world’s lowest equity valuations raise the prospect of a new round of takeover deals in the final months of 2021.

A survey of 15 risk-arbitrage desks, fund managers, traders and analysts across the U.K. and Europe revealed that sports-betting firm Entain Plc, Scottish energy provider SSE Plc and luxury-clothing brand Burberry Group Plc are flashing brightest on investor radars.