Mergers and acquisitions involving UK companies: Apr to Jun 2016

Transactions which result in a change of ultimate control of the target company and have a value of £1 million or more.

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Release date:
6 September 2016

Next release:
06 December 2016

1. Main points

During the second quarter (Apr to June) of 2016, the number and value of successful mergers and acquisitions (M&A) involving UK companies saw notable declines when compared with the numbers and unusually high values seen in the previous quarter, Quarter 1 (Jan to Mar) 2016.

There were a total of 87 successful domestic and cross-border mergers, acquisitions and disposals involving UK companies worth £14.0 billion in Quarter 2 2016, compared with 190 successful transactions valued at £69.0 billion, reported previously in Quarter 1 2016.

Domestic acquisitions (UK companies acquiring other UK companies) during Quarter 2 2016 saw 47 completed acquisitions worth £5.9 billion, down 50% from the number reported in Quarter 1 2016 (95 acquisitions worth £11.8 billion).

There were 20 completed inward M&A transactions (foreign companies acquiring UK companies) valued at £6.3 billion in Quarter 2 2016, down 61% from 52 successful inward M&A transactions valued at £50.3 billion seen during Quarter 1 2016.

Quarter 2 2016 saw 16 successfully completed acquisitions of foreign companies abroad made by UK companies (outward M&A) worth £1.7 billion, compared with 35 valued at £6.1 billion during Quarter 1 (Jan to Mar) 2016, a decline of 54%.

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2. Your views matter

We are constantly aiming to improve this release and its associated commentary. We would welcome any feedback you might have and would be particularly interested in knowing how you make use of these data to inform our work. For further information please contact us via email: ma@ons.gov.uk or telephone Sami Hamroush on +44 (0) 1633 455087.

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3. Uses of mergers and acquisitions data

The estimates produced for mergers and acquisitions (M&A) are vital and important components of foreign direct investment (FDI) flows data (inward and outward) and UK Balance of Payments statistics. M&A data is also published in the Blue and Pink Books.

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4. Summary

This release covers mergers and acquisitions (M&A) transactions involving UK companies that have been successfully completed, result in a change of ultimate control of the target company and have a value of £1 million or more. Information on the number and value of transactions are reported, in addition to whether transactions are acquisitions or disposals.

Figures relating to mergers are included within acquisitions and those relating to demergers are contained within disposals. These statistics are presented on a current price basis, which are prices as they were at the time of measurement and are therefore not adjusted for inflation.

The quarterly numbers and value of M&A activity are prone to large quarter-on-quarter movements, as these data relate to specific “one time” only transactions. For example, one quarter can be heavily impacted by one large transaction. Therefore it can be more appropriate to analyse trends over time.

Data published in this bulletin for Quarter 1 (Jan to Mar) 2016 have been revised in light of new information. No revisions to the 2015 data have been made and therefore time series data for all quarters of 2015 and any previous historic quarterly periods remain unchanged.

During Quarter 2 (Apr to June) 2016, the provisional estimates for the total number and value of successful domestic and cross-border M&A involving UK companies saw lower levels of activity when compared with the numbers and unusually high values (domestic and inward M&A) reported during Quarter 1 2016 and also with the same quarter of the previous year, Quarter 2 2015.

There were a total of 87 successful domestic and cross-border M&A involving UK companies in Quarter 2 2016 valued at approximately £14.0 billion. This total included 47 domestic acquisitions valued at £5.9 billion; 20 inward acquisitions valued at £6.3 billion; 4 inward disposals valued at £0.1 billion and 16 outward acquisitions valued at £1.7 billion.

The number of total successful domestic and cross-border M&A in Quarter 2 2016 represents a 54% fall on Quarter 1 2016 (190 transactions) and a 34% fall on the number of M&A recorded at Quarter 2 2015 (131 transactions).

Overall, the number of successful M&A transactions involving UK companies has remained broadly stable since the 2008 to 2009 economic downturn, albeit with quarter-on-quarter volatility.

Recent M&A statistics can be put into context by comparing the most recent quarter with consecutive 5-year intervals since 1997 (Table 1).

Overall , the average value of completed M&A made abroad by UK companies (outward M&A) during Quarter 2 2016 was lower than the average values previously seen since Quarter 1 2007.

In contrast, during Quarter 2 2016 the average value of completed M&A involving UK companies (domestic M&A and inward M&A) per transaction was notably higher when compared with the previous average values recorded since Quarter 1 1997.

Average outward M&A

The quarterly average number of outward acquisitions during 1997 to 2001 (5-year interval) was reported as 128 completed acquisitions, with an average value of £159.0 million per transaction. The average number of outward acquisitions experienced a decline during the following 10 years, falling to a quarterly average of 67 outward acquisitions, with an average value of £119.0 million, by the end of 2011. Between Quarter 1 2012 and Quarter 1 2016, the average number of outward acquisitions then fell further, giving a quarterly average of 29 transactions, but with the average value per transaction increasing to £160.0 million.

During Quarter 2 2016, the actual number of completed outward M&A was shown as 16, with an average value per transaction of £106.0 million.

Average inward M&A

Between 1997 and 2001, the quarterly average number of completed inward acquisitions was 54, with an average value of £183.0 million per transaction. The following years (2002 to 2011) experienced relatively stable levels of M&A activity. However, between 2012 and 2016, the quarterly average number of inward acquisitions fell to 36, while the average value per transaction rose to £242.0 million.

In Quarter 2 2016, the actual number of completed inward acquisitions (20) saw evidence of a further decline of inward M&A activity, although the average value per transaction increased to £316.0 million.

Average domestic M&A

During the 15-year period between 1997 and 2011, the average number of domestic acquisitions saw a downward trend. The quarterly average number of domestic M&A for 1997 to 2001 was 136, with an average value of £80.0 million. During 2002 to 2006, domestic M&A saw an upturn in the quarterly average number of transactions (164). However, the quarterly average value saw a fall to £39.0 million per transaction. The following 5-year interval (2007 to 2011) saw the average quarterly number of domestic M&A fall to 121, with the average value per transaction remaining stable at £40.0 million.

During the interval 2012 to 2016, the average value of the 61 completed domestic acquisitions was £36.0 million, showing a decline in domestic M&A activity.

In Quarter 2 2016, the number of completed domestic acquisitions declined further to 47 successful domestic acquisitions, with an average value of £125.0 million per transaction.

Notes for summary

  1. Quarter 1 is January to March, Quarter 2 is April to June, Quarter 3 is July to September and Quarter 4 is October to December.
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5. Transactions in the UK by other UK companies Quarter 2 (Apr to June) 2016

During Quarter 2 (Apr to June) 2016, the estimates for the number and value of M&A of UK companies by other UK companies (domestic M&A) saw notable decreases when compared with the unusually high numbers and values seen during Quarter 1 (Jan to Mar) 2016.

There were 47 completed domestic M&A during Quarter 2 2016, a 51% decrease compared with 95 acquisitions reported in the previous quarter, Quarter 1 2016.

One high-profile acquisition which accounted for the majority of the total value of domestic acquisitions (£5.9 billion) during Quarter 2 2016 was Liberty Global Plc of the UK, who acquired the entire ordinary share ownership of Cable and Wireless Communications Plc of the UK.

Year-on-year comparison of successful domestic M&A between Quarter 2 2015 (59 acquisitions) and Quarter 2 2016 (47 acquisitions) saw a decline in M&A activity of approximately 20%.

The value of domestic M&A in Quarter 2 2016 also saw a considerable quarter-on-quarter decrease, reporting a value of £5.9 billion of completed transactions, a fall of 50% from the £11.8 billion previously reported in Quarter 1 2016.

In contrast, year-on-year comparison saw the value of domestic M&A that completed during Quarter 2 2016 (£5.9 billion) as the highest recorded since Quarter 3 (July to Sep) 2014 (£3.2 billion), an increase of 84%.

Other notable domestic transactions, valued at £100 million or more that took place during Quarter 2 (Apr to Jun) 2016:

The total number of successful domestic M&A can be split into those made by independently-controlled companies and those which are subsidiaries. The acquisition of an independent company means the purchase of a company in its entirety, whereas the acquisition of a subsidiary means the acquisition of a part of a company, between 50.1% to 100% ordinary share ownership.

During Quarter 2 2016, domestic mergers and acquisitions involving independently-controlled companies (38 valued at £5.4 billion), represented the majority (81%) of the total number of completed domestic M&A (47).

In comparison, domestic M&A involving subsidiaries between UK company groups (9 valued at £0.4 billion) accounted for the remaining 19% of the overall total number of domestic M&A (47) involving a change of majority ordinary share ownership.

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6. Transactions in the UK by foreign companies Quarter 2 (Apr to June) 2016

During Quarter 2 (Apr to June) 2016, the estimates for the number of inward M&A of UK companies made by foreign companies, involving a change of majority ownership, continued to see historically low levels of activity. The value of inward M&A, which completed in Quarter 2 2016, reported a notable decline when compared with the unusually high value previously reported during Quarter 1 (Jan to Mar) 2016 (Figure 4).

There were 20 completed inward M&A of UK companies during Quarter 2 2016, which was 32 fewer than the number previously reported during Quarter 1 (Jan to Mar) 2016 (52). In Quarter 2 2016, the number of inward M&A (20) also recorded the lowest level of M&A activity for 3 years, since Quarter 1 2013, when 19 successful acquisitions were reported.

One large publically-reported majority share acquisition which completed during Quarter 2 2016 was undertaken by Ball Corporation of the USA which acquired Rexam Plc of the UK.

The estimates for the value of inward M&A during Quarter 2 2016 also reported a notable decline in activity. Between Quarter 1 2016 and Quarter 2 2016, the value of inward M&A fell by approximately 87%, from £50.3 billion to a low value of £6.3 billion respectively.

Comparison of inward M&A involving a change of majority ownership, between Quarter 2 2015 and Quarter 2 2016 also indicated declines in both number and value. There were 31 inward M&A valued at £9.8 billion which successfully completed during Quarter 2 2015 compared with 20 valued at £6.3 billion in Quarter 2 2016, a year-on-year decrease of approximately 35%.

Other inward notable transactions, valued at £100 million or more that took place during Quarter 2 (Apr to June) 2016:

In Quarter 2 2016, there were 4 successful inward disposals valued at £0.1 billion, similar to the number of inward disposals previously seen during Quarter 1 2013, when there were 4 transactions worth £89.0 million.

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7. Transactions abroad by UK companies Quarter 2 (Apr to June) 2016

During Quarter 2 (Apr to June) 2016, the provisional estimates for both the number and value of UK companies which successfully acquired foreign companies (outward M&A), involving a change of majority ownership, saw notable falls when compared with Quarter 1 (Jan to Mar) 2016, continuing to report low levels of M&A activity compared with those seen before the 2008 to 2009 economic downturn.

Between the first and second quarters of 2016, , the estimates for the number of foreign companies acquired by UK companies (outward M&A) saw a notable fall of 54%.

There were 16 completed outward M&A made by UK companies involving a change of majority ownership in Quarter 2 2016, down from the 35 reported in the previous quarter, Quarter 1 2016.The decrease follows a similar trend observed since 2013 where the number of acquisitions decreased in the second quarter of each year.

Year-on-year comparisons indicates that the number of successful outward M&A transactions between Quarter 2 2015 (31) and Quarter 2 2016 (16) have fallen by 48%, although the 16 successful transactions reported for Quarter 2 2016 appears to be on a par with the number reported previously in Quarter 2 2013 (13 transactions).

The value of successful outward M&A reported during Quarter 2 2016 (£1.7 billion) also indicated a considerable fall of 72% when compared with the previous value reported for Quarter 1 2016 (£6.1 billion). Year-on-year, the value of completed outward M&A for Quarter 2 2016 (£1.7 billion), saw a similar value to that reported 3 years previous, at Quarter 2 2013 (£1.0 billion).

Notable transactions, valued at £100 million or more, that took place abroad by UK companies in Quarter 2 (Apr to Jun) 2016:

The provisional quarterly estimates for the number and value of successful disposals of foreign companies made by UK companies (outward disposals) during Quarter 2 2016 have been suppressed in this bulletin to avoid any potential disclosure in this type of M&A activity.

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8. Additional information

The M&A data and information in this release only includes data for acquisitions, mergers and disposals which are successfully and legally completed. As part of the production process we also identify both announced and agreed M&A transactions.

The following notable M&A transactions will feature in future releases:

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9. How our statistics compare with external evidence

Global merger, acquisitions and disposals activity is often driven by the availability of credit and company profits, as well as a sense of confidence in the economic outlook. The majority of large M&A transactions involve some element of borrowing or leveraging. Therefore when credit conditions deteriorate, as happened in the 2008 to 2009 economic downturn, M&A activity declines. On the other hand, the process of completing a M&A transaction takes time and sometimes there may be a lag between improving economic conditions and any quarter-on-quarter increase in M&A activity.

The Bank of England’s (BoE) Agents’ Summary Report for Quarter 2 (Apr to June) 2016 reported that business investment intentions for the year ahead were little changed and pointed to modest growth in investment. Business services and contacts reported reductions overall in corporate deal-making activity, as some planned mergers and acquisitions and corporate finance activity had been paused or cancelled.

The report also stated that credit conditions were thought to have tightened slightly in the financial markets and businesses’ demand for credit had remained subdued.

The BoE’s Credit Conditions Review for Quarter 2 2016 and also its Credit Conditions Survey results for Quarter 2 2016, reported that the demand for corporate credit from large corporates had slowed significantly ahead of the EU referendum. Lenders cited significantly lower demand for commercial real estate lending, less mergers and acquisitions activity and caution ahead of the referendum as factors driving this.

Deloitte Touche Tohmatsu Ltd (Delotte), a multi-national professional services firm, stated in its report “The impact of Brexit on M&A activity”, that since the beginning of 2016 both global and UK M&A markets had been slowing down.

Deloitte’s Chief Finance Officers’ (CFO) Survey Report for Quarter 2 2016, stated that the financial and economic uncertainty is weighing heavily on investment and deal decisions.

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10. Quality and methodology

The Mergers and acquisitions Quality and Methodology Information document contains important information on:

  • the strengths and limitations of the data and how it compares with related data
  • users and uses of the data
  • how the output was created
  • the quality of the output including the accuracy of the data
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11 .Background notes

1. Overview of Mergers and Acquisitions:

The M&A estimates are analysed and produced to measure investment data for:

  • Investment in the UK by UK companies (Domestic investment)

  • Investment/Disinvestment in the UK by foreign companies (Inward investment/disinvestment)

  • Investment/Disinvestment in foreign companies by UK companies (Outward investment/disinvestment)

M&A data are essential for producing the National Accounts. The survey results form important components of the UK Balance of Payments and Financial Accounts and are vital in the measurement of the financial and non-financial business sector accounts. M&A data is used in the compilation of the estimates for Foreign Direct Investment and additionally used by other government departments when preparing ministerial briefings. For example, HM Treasury, The Department for Business, Innovation and Skills, UK Trade and Investment and HM Revenue and Customs. The M&A data estimates are also used by foreign embassies, economists and academics for research purposes and for periodic statistical comparisons.

2. Relevance to users

The degree to which the statistical outputs meet users’ needs.

The mergers and acquisitions data are considered to be essential for producing the National Accounts. The survey results form important components of the UK Balance of Payments and Financial Accounts and are vital in the measurement of the financial and non-financial business sector accounts.

The Cross-Borders Acquisitions and Mergers survey (M&A) data are used in the compilation of the estimates of Foreign Direct Investment (FDI). These data meet the needs of FDI by collecting data on all acquisitions which lead to a holding in excess of 10% of the issued share capital. These estimates then feed into the UK Balance of Payments and the “Rest of the World” sector of the financial accounts in the National Accounts, for which there is an EU legal requirement. Individual transaction information is also used to estimate the counterpart in “portfolio” investment flows for monthly Balance of Payments.

The data collected are also used in updating business structures and country of ownership codes on the Inter-Departmental Business Register (IDBR).The IDBR is a comprehensive list of UK businesses that is used by government for statistical purposes.

Elsewhere in government, examples of departments who use the data include:

  • HM Treasury, Economic Analysis Division, where the data are used in preparing briefing and forecasting

  • Department for Business, Innovation and Skills, where direct investment data are required for ministerial briefing, parliamentary questions and in formulating trade policy

  • UK Trade and Investment, where the information is used for briefing on the extent to which the UK is successful in attracting inward investment

  • HM Revenue and Customs, where the data are used to help in forecasting company taxation

Non-government users include:

  • private companies which are interested in analysing country and industry data for trends by foreign firms in the UK and by UK companies abroad and also for researching corporate finance activity and for the purpose of investment banking

  • UK embassies in foreign countries, who are interested in information on specific countries and companies making acquisitions

  • private sector economists, journalists and academics who are interested in information on particular industries and particular countries for research purposes and who use the data for periodic statistical comparisons

Feedback from users has indicated that the information received from the M&A survey has a high degree of relevance across the above user groups, meets the vast majority of user needs, and all information currently collected and published is used.

Source of data

The information collected is based on reports in the financial press, specialist magazines, company and financial websites supplemented by special surveys to businesses to determine the form, value and timing of each transaction.

If the information is not yet in the public domain, such transactions may not be reflected in the analysis. Where full information has not yet been received on the details of the acquisition or disposal, the value of the transaction indicated in the public domain is used as an interim estimate.

The data shown in this release relate solely to mergers and acquisitions undertaken by companies: acquisitions by individuals are not included.

This publication contains data relating mergers, demergers, acquisitions and disposals. Figures relating to mergers are included within acquisitions and those relating to demergers are contained within disposals.

We make every effort to provide informative commentary on the data in this release. As part of the quality assurance process, individual businesses are contacted in an attempt to capture reasons for large period on period data movements. It can prove difficult to gather detailed reasons from some businesses to help inform the commentary. Frequently, reasons given for data movements refer to a “change in market conditions” or a “restructure of the company”. Consequently, it’s not possible for all data movements to be fully explained.

We are aware that a number of users make use of these data for modelling or forecasting purposes. In doing so, it is important that users make note of our revisions policy and that all time series are on a “current price” basis, which means that the values are as they were at the time of measurement and not adjusted for inflation. Acquisitions and disposal activity can be affected by UK and global economic and political issues and therefore quarterly estimates can be volatile.

One question often asked of the M&A release is “why is there a time delay between the announcement of M&A transactions in the press and the inclusion of these transactions within ONS M&A figures?“ The difference is that our figures record when a transaction legally completes as opposed to when the transaction has been announced in the press. The complexities surrounding the acquisitions or disposals taking place often incurs a time lag, which can vary between quarters.

3. Significant transactions

Significant transactions tables show the reported figures for a selection of significant transactions which occurred in the quarter, where “significance” is defined as the absolute value of the deal.

The information shown is taken from each relevant company’s press release which is available within the public domain. A direct link to each press release is provided. Should a company request that details of the transaction be kept confidential then the deal is excluded. However, the values are included in the aggregate tables. Occasionally, therefore, a large deal may be missing (suppressed) from the lists so it is best to regard these tables as an indication of the ranking of deals rather than a completely exhaustive listing.

Press reported figures for M&A transactions often differ to some extent from those supplied by companies to us and it is the latter which are used in compiling statistical aggregates in tables 1 to 10. Included in the prices quoted in the tables of significant transactions is the total published price paid for the company excluding any assumed debt where known. Deferred payments are included in the reported price even if the payment is made in a different quarter.

4. Types of transactions covered

Mergers are acquisitions in which all or part of the payment is made in shares, such that the shareholders of the two companies become shareholders of a new, combined company group.

Demergers are disposals where a company group divides into two or more separate companies, in such a way that the shareholders of the restructured companies remain the same, or retain the equivalent value shareholding in one of the newly independent companies. Demergers are included in the statistics within disposals.

Acquisitions are transactions which involve one company purchasing the ordinary shares of a second company (“target company”). A target company is usually of a smaller size than the company undertaking the purchase.

Disposal is a term used to describe the action when a company or organisation sells or liquidates the ordinary shares of a second company (“target company”).

Cross-border acquisitions denote transactions where a company in one country acquires, either directly or indirectly, a controlling interest in a company in another country.

Direct transactions are those where a company acquires a controlling interest in another company.

Indirect transactions are those where a company uses an existing foreign subsidiary to acquire a controlling interest in a company resident in another country. The acquiring foreign intermediate company may be located in the same country in which the acquisition is being made or in a different country.

Acquisitions within the UK by other UK companies denote mergers and acquisitions involving only UK registered companies.

Where the acquired company was a subsidiary of another company the transaction is classified as a sale between company groups.

The phrase “acquisitions in the UK by UK companies” refer to deals where the ultimate ownership remains in the UK. This heading does not cover the total number or value of deals where a UK company is the acquirer. When a foreign company acquires a UK company through one of its existing UK subsidiaries or a UK registered special purpose vehicle that deal is shown as part of the data under “acquisitions in the UK by foreign companies”.

Acquisition of independent companies

The acquisition of an independent company means the purchase of a company in its entirety – the company itself and all of its subsidiaries

Acquisition of subsidiary companies

The acquisition of a subsidiary company means the purchase of part of a company.

5. Financing

This statistical bulletin provides details of the application of funds to effect mergers and acquisitions and the proceeds raised from disinvestments and demergers.

For indirect foreign transactions there is the added complication of considering the movements of funds either as capital injection or in the form of loans between parent companies and their foreign subsidiaries making the acquisition. Occasionally, the foreign subsidiary obtains the funds required partly or entirely outside the UK from sources such as:

  • own resources
  • borrowing from banks and other local sources
  • share, bond and other capital or notes issued abroad

Also, a transaction may be funded by more than one method.

6. Definitions of geographic and economic areas

7. Revisions

Data for the first quarter of 2016 has been revised in the light of new information, and so revisions to the data for Quarter 1 (Jan to Mar) 2016 have been published in this statistical bulletin. No further revisions to data prior to Quarter 1 (Jan to Mar) 2016 have been made. Therefore time series data for all quarters of 2015 and any previous historic quarterly periods remain unchanged.

Annual data tables for 2015 are produced in conjunction with the Quarter 4 (Oct to Dec) 2015 and Quarter 1 (Jan to Mar) 2016 data outputs. Revisions to the 2015 quarterly and annual figures were recalculated at Quarter 1 (Jan to Mar) 2016 only. Therefore no revisions to annual data prior to 2015 have been made and subsequently time series data for previous historic annual periods remains unchanged.

Revisions to the aggregates used in M&A principally occur for the following reasons.

Completion of transactions

On announcement of a proposed transaction an expected completion date is usually given. The publicly reported values will be allocated to the quarter of expected completion. If the transaction is ultimately completed in an earlier or later quarter, the recorded values will be reallocated to the new quarter.

Publicly reported values

Publicly reported values are initially used to compile the aggregates. These can vary considerably from the values ultimately supplied by the respondents, frequently because the assumption of debt has been included in the publicly reported value. A nominal value is applied if no publicly reported value is available. The final values used to create the aggregates are those supplied by the respondent.

Non-completion of transactions

On announcement of a proposed transaction the publicly reported value of the transaction is recorded. If the transaction does not subsequently take place the recorded value will be deleted.

Non-share transactions

On announcement of a proposed transaction it may appear that there will be transactions in the share capital of the companies involved and the publicly reported values will be recorded. If subsequent information contradicts this the recorded values will be amended or deleted.

Control

On announcement of a proposed transaction it may appear that the transaction will give the purchasing company control of the purchased company, that is, a share ownership of greater than 50%. If subsequent information contradicts this the recorded values will be amended or deleted.

Revisions from respondents

Very occasionally respondents revise the values that they have previously supplied to ONS. The revised values are those used to create the aggregates

Analysing average revisions between provisional and final estimates can provide an indication of reliability in an initial statistic. Provisional statistics may be based on less information than is available for final statistics as they have been processed more quickly to meet the demand of customers. By looking at these average revisions it can help us determine whether revisions are being made consistently in one direction, that is, if early estimates are consistently under or overestimating the later figures. A test is subsequently performed on these average revisions to determine if they are statistically different from zero. Revisions that are not statistically significant imply that an average revision might be non-zero simply through random effects.

8. Response rates

9. Notes to tables

The deal identification threshold was increased at Quarter 1 (Jan to Mar) 2010 to a value of £1.0 million from a previous value of £0.1 million. As a consequence there is a discontinuity in the value and number of deals reported from Quarter 1 (Jan to Mar) 2010 onwards compared with previous periods.

Symbols used in the tables are:

.. Figure suppressed to avoid disclosure of information relating to individual enterprises.

– Nil or less than half the final digit shown.

The sum of constituent items in tables may not always agree exactly with the totals shown due to rounding.

10. Disclosure

It is sometimes necessary to suppress figures for certain items in order to avoid disclosing information about an individual business. Further information on why data are suppressed is available in our Disclosure Control Policy.

11. Discussing ONS Business Statistics Online

There is a Business and Trade Statistics community on the StatsUserNet website. StatsUserNet is the Royal Statistical Society’s interactive site for users of official statistics. The community objectives are to promote dialogue and share information between users and producers of official business and trade statistics about the structure, content and performance of businesses within the UK. Anyone can join the discussions by registering via either of the links.

12. Media Contact Details

Telephone: Media Relations Office +44(0) 845 6041858
Emergency on-call: +44 (0) 7867 906553
Email: media.relations@ons.gov.uk

Details of the policy governing the release of new data are available on the UK Statistics Authority website.

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Contact details for this Statistical bulletin

Sami Hamroush
sami.hamroush@ons.gov.uk
Telephone: +44 (0) 1633 455087