Mergers and acquisitions have bounced back in the UK and internationally for the first time since the end of 2000, according to KPMG, the professional services firm.

The worldwide value of completed deals to date in 2004 has risen to $1,536bn (£808bn), a 47 per cent increase compared with the same period of 2003, according to an analysis by KPMG of data from Dealogic, the research company.