Brexit chills M&A activity despite some big deals

London

BRITAIN'S shock vote to leave the European Union (EU) chilled dealmaking activity involving British companies to the lowest level in at least two decades as bosses grapple with what "Brexit" will cost, Thomson Reuters data shows.

The figures give a glimpse of how Brexit and an array of wider global uncertainties are affecting the behaviour of chief executives, and the teams of bankers, lawyers and advisers who make money from buying and selling companies.

Headline-grabbing deals such as the audacious US$32 billion bid by Japan's SoftBank for Britain's most valuable technology company ARM might make it appear that all is well in the world of mergers and acquisitions (M&A).

However, the aggregate number paints a di…