Despite the ongoing Eurozone sovereign debt crisis, the UK M&A market remains resilient and the Bishopsgate pipeline continues to be strong.

The Allen & Overy M&A index showed a 12% increase in value of cross-border deals in 2011 compared to 2010, and we expect this trend to continue in 2012 with cash rich corporates looking to enter the market.

For private equity players in particular, there is pressure to do deals which will continue to create a pipeline of deals.  As ever, the problem for both buyers and sellers right now is the availability of debt funding and this will continue to keep multiples at sensible levels.