The value of mergers and acquisitions (M&A) in the European Union dropped sharply in April, but the UK is leading the way by number of deals.

The value of mergers and acquisitions (M&A) in the European Union dropped sharply in April, but the UK is leading the way by number of deals.

M&A transactions worth €28.7 billion (£25.6 billion) were completed in the EU in April, a decline of 65 per cent on the previous month and 72 per cent year-on-year, according to research company Bureau van Dijk.

The number of deals recorded fell by just 27 per cent month-on-month, with 1,168 signed off compared to 1,604 in March. That implies an average transaction value of €25 million, compared to €51 million the month before.

The UK’s 405 deals were more than the combined total of its four closest rivals Germany, Sweden, Italy and France. It also accounted for the largest proportion of deal value, with transactions in the region valued at €5.3 billion compared to €4 billion for second-placed Italy.

Private equity deals across Europe declined almost two-thirds by total value (to €479 million) and a third month-on-month by volume (to 61 deals) in April compared to the previous month.