
September’s UK dealmakers paid for capability, scale, and conviction again. Veritas secured Bodycote, Toscafund-led investors agreed Spire, and Epiris moved for Gamma, while Softcat used its largest acquisition to enter the US at scale and Genel lifted its Capricorn bid, extending a month of selective, increasingly competitive dealmaking in Britain.

Xero has launched new supplier payment reporting for UK businesses. The tool converts accounting records into Fair Payment Code evidence, reducing manual calculations when companies monitor or demonstrate supplier payment performance.

Brussels is signalling greater openness to creating larger European champions. Dealmakers are preparing to test whether competitiveness arguments now carry greater weight in EU merger reviews.

Monzo is exploring private equity investment after Nubank talks collapsed. CVC and Advent are reportedly discussing a minority stake as the digital bank considers its next ownership and funding options.

Tesco is reportedly considering a takeover of retailer Majestic Wine. The potential deal would add specialist retail and hospitality supply operations to Britain’s largest supermarket group.

Global dealmaking slowed sharply during the third quarter of 2026. LSEG data shows transaction value fell below $1tn as borrowing costs and market volatility altered acquisition economics.

Investor resistance is pushing more companies to delay planned flotations. UK candidates are among businesses reconsidering IPO timing as public markets become less tolerant of ambitious valuations.

BT is weighing an improved offer for heavily indebted TalkTalk. A possible acquisition would combine financial restructuring with difficult questions around broadband competition and Openreach.

Nubank has ruled out pursuing a transaction with UK-based Monzo. The clarification closes down recent takeover speculation while leaving the British digital bank’s wider ownership and fundraising options unresolved.

Aldermore is reviewing its invoice finance business amid restructuring reports. The bank has confirmed a strategic review, while reported proposals could reduce customer numbers and put some roles at risk.