£100bn City exodus as companies sell up or move their main listing
Evening Standard|April 26, 2024
COMPANIES worth about £100 billion are on the way out of the London stock market so far this year, either by being bought up or via moving the main home for their shares overseas, and experts fear there is much more to come.
Michael Hunter
£100bn City exodus as companies sell up or move their main listing

Research by the Evening Standard and investment bank Peel Hunt shows that companies worth over £26 billion have already agreed to be sold in 2024, to other listed firms or private equity.

That comes alongside a combined value of £38 billion for firms shifting their main listing abroad.

And Anglo American today rejected the biggest takeover offer so far, saying BHP's £31 billion bid "undervalued" the firm and was "opportunistic".

Including the current headline figure from that deal takes the total in market capital involved in the exodus to £95 billion. City experts are on watch for an increased bid from BHP.

Another multi-billion deal struck was today, for cybersecurity firm Darktrace.

This story is from the April 26, 2024 edition of Evening Standard.

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This story is from the April 26, 2024 edition of Evening Standard.

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