Irish M&A transactions highest in almost 3 years

The combined value of Irish-related company transactions hit its highest level for nearly three years, during the first quarter of 2013, new research shows.

According to the latest M&A tracker survey from specialist bank, Investec, nearly €5.6bn worth of takeovers and mergers — involving Irish firms — took place during the first three months of this year, with biotech firm, Elan’s, sale of its 50% stake in multiple sclerosis drug, Tysabri, driving activity.

The quarter represented the highest combined deal value since the third quarter of 2010, when deals from glass and packaging group, Ardagh, and the sale of AIB’s Polish division boosted levels.