Manchester deals in decline
MANCHESTER’S deal market saw a considerable decline in the second quarter of 2009, analysis shows.
In the second quarter of 2009, Manchester-based advisors represented 32 deals – a 45% reduction in volume compared to the 59 deals done in the first quarter, according to data provided by Corpfin in association with Pro.Manchester.
The consideration was disclosed in 15 of those deals, with a combined value of £241m, which represents a 54% slide in value compared with the first quarter.
The decline is even more marked, compared to the second quarter a year ago, with a 72% drop in the volume of all deals and an 84% drop in the value of deals done, where that value was disclosed.
A big factor in this decline is the fact that in the last quarter, Manchester-based advisors were not involved in any large deals with a value of more than £1bn. This is a first, according to the report.
