The volume of foreign acquisitions announced in the UK market so far this year has exceeded last year’s figure despite the turmoil in global credit markets and a backdrop of falling deal volumes across Europe.

UK targeted cross-border mergers and acquisitions stands at $52bn (€32.6bn) for the year to date, up 12% on the figure for the same period last year, with overall deal numbers up over 60% on last year’s total, according to data provider Dealogic.