Mergers and acquisitions rise again

The number of mergers and acquisitions involving Irish companies is set to rise again in 2004 after latest figures revealed a near three-fold increase at the end of 2003.

The number of mergers and acquisitions almost trebled in the third quarter of 2003 compared to the same period in 2002 according to the latest Ion equity survey.

Royal Bank of Scotland's buyout of First Active boosted the number of mergers and acquisitions involving Irish companies.

46 deals worth more than €2.2bn were proposed compared to 31 deals worth €838m last year.

The RBOS €887m takeover of First Active was the highest profile deal.

According to Ion director, Joe Devine: “Companies have come towards the end of their restructuring programmes and may now begin focusing on larger strategic acquisitions.

“There is renewed interest from foreign companies looking to gain a foothold in the Irish market. We expect to see further big deals in the new year,” he added.