Irish merger deals 'back to 2003 levels'

The number of merger transactions notified to the Competition Authority increased by 70% in 2010, but the absolute number of deals (46) is back to 2003 levels, according to a new survey.

An annual review of Irish merger control launched today by McCann FitzGerald suggested 2010 was a mixed year for Ireland’s mergers and acquisitions (M&A) activity.

“While on the one hand, we have seen a 70% increase in notifications, this follows a record low in 2009 and takes us back to 2003 levels when 47 deals were notified to the Competition Authority," said spokesman Philip Andrews, who said this compared to a peak of 98 deals in 2006.

“On the other hand, of the 46 deals notified in 2010, 18 involved an Irish target," Mr Andrews added.

"This represents an 80% increase from 2009 and suggests that Irish deal-making may be keeping apace with the global upswing.”