The Financial Times reports that the Dublin-headquartered firm’s study came as Royalty Pharma launched its $6.6bn bid for Irish drug company Elan, while just last week Canadian life insurer Great-West Lifeco bid €1.3bn for Ireland’s biggest life insurer Irish Life - which was nationalised during the financial crisis.
Propel activity
William Fry noted that a stream of potential deals in the pharmaceutical, medical and biotechnology sectors this year will further propel M&A activity in Ireland in 2013.
‘Overseas buyers are not only focused on distress-driven opportunities. With its improved competitiveness, Ireland’s future within the euro is more certain than it was a year or two ago,’ said the firm in its report.
The study also revealed that the value of mergers and acquisitions completed in Ireland increased 18 per cent to €17.1bn in 2012.
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