British businesses acquired by foreign companies abroad valued at 18.4 billion pounds (about 22.2 billion U.S. dollars) in the second quarter of 2019, the Office for National Statistics (ONS) said Tuesday.

In its Mergers and Acquisitions analysis for the three months between April and June, ONS said the value of acquisitions was a sizeable increase of 10.8 billion pounds on the 7.6 billion pounds recorded in the first three months of this year.

There were 126 completed inward acquisitions in the second quarter of 2019, a slight fall on the 129 reported in the previous quarter, said ONS.

ONS said in second quarter of 2019 the estimates for the values of both inward and domestic mergers and acquisitions involving British companies saw notable increases, while outward mergers and acquisitions saw a notable decrease compared with the first quarter of 2019.

Inward disposals were valued at 0.4 billion pounds, the lowest since the 0.1 billion pounds seen in the first three months of 2013, added ONS.

The statistics agency said the value of domestic mergers and acquisitions, British companies acquiring other UK companies, in the second quarter of 2019 was 2.8 billion pounds, a 1 billion-pound increase on the value recorded between January and March when it was 1.8 billion pounds.

Meanwhile, the value of outward mergers and acquisitions involving British companies acquiring foreign companies abroad was 1.5 billion pounds in second quarter of 2019, a notable fall of 4.6 billion pounds, compared with the 6.1 billion pounds recorded during the first quarter 2019. (1 pound=1.21 U.S. dollars)

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