Merger and acquisition activity forges ahead

Merger and acquisition activity involving Irish companies remained at a very strong level during the third quarter of 2006 with 57 separate deals in the quarter compared to 31 deals in the same period in 2005, the latest M&A Tracker survey from corporate finance specialists Ion Equity reveals.

The value of deals in the most recent quarter was €1.8bn, compared to more than €3.8bn in third quarter 2005, but the 2005 period was distorted significantly by one major transaction, the €2.5bn merger of Jefferson Smurfit and the Kappa Group.

"If one excludes the Smurfit Kappa deal, then deal values in third quarter 2006 are actually 50% higher than in third quarter 2005, and that’s a very positive trend," said Ion Equity Director Joe Devine.