New figures published by the Office of National Statistics have revealed a fall in inward, outward and domestic deal volumes in Q2 2022. Inward deal volumes fell to 117 in Q2 2022 from 173 in Q1; outward deal volumes fell to 58 in Q2 from 80 in the previous quarter; and domestic deal volumes were down to 158 in Q2 from 196 in Q1.

Despite fewer deals being completed, foreign companies were still attracted to buying UK businesses as inward M&A values increased to £16.1 billion in Q2, from £15.6 billion the previous quarter. UK businesses were also on the acquisition trail as outward M&A values were up to £4.5 billion in Q2 from £2.8 billion in Q1, while domestic deal values fell to £2.9 billion in Q2, from £3.8 billion in Q1.

A total of 72 deals were completed in June 2022, down from 148 in March 2022 – the lowest level since over two years ago in May 2020 where only 58 deals were completed.