Notably, the mining giant BHP has decided to cease its UK primary listing and recently the UK multiplex cinema chain Cineworld has decided to look at a dual listing in the US.
For a privately owned UK company, this should create pause for thought. For shareholders looking for an exit (or at a minimum some liquidity in their shares), a UK listing has possibly become less attractive in the light of these developments. The M and A market on the other hand, is active and the companies which have come through the last 18 months in good shape are well positioned to benefit from attractive pricing and keen buyers who have kept their powder dry (both private equity and corporates). Clearly, this represents a snapshot and no one knows where the listed or unlisted markets will go in the future or indeed if we will face further pandemic driven impacts on the economy. At the moment however, there is an opportunity for both large and smaller privately owned companies to take advantage of a buoyant M and A market in the UK.
The next step
Our corporate finance and taxation teams are experienced in advising on mergers and acquisitions involving privately owned companies. Please contact Robert Kidson or your usual UHY adviser should you wish to discuss this further.