Record mergers and acquisitions

A record €39.3bn worth of mergers and acquisitions were recorded in Ireland in the opening half of 2014, representing a dramatic increase on the same period a year previously.

The increase was largely driven by the €33.9bn acquisition of Dublin-based healthcare company Covidien by US medical manufacturer Medtronic.

According to the William Fry Mid-Year M&A Review 2014, the first six months of the year have also shown a significant increase in the volume of activity in the Irish M&A market compared with 2013 levels for the same period.

The first half of the year saw 42 deals announced representing a 31% increase on the same period last year and the second highest first-half results since 2008.

William Fry head of corporate and M&A, Bryan Bourke said that factors such as the level of public and private debt in the country could present difficulties going forward, despite the encouraging first-half results.

“Despite the broadly positive climate for M&A, Ireland faces a number of challenges that could put a damper on deal making. The levels of public and private debt, for instance, remain troubling. But there are positive indicators pointing to a bright future and I would advise cautious optimism for Ireland’s M&A marketplace.”