Mergers and acquisitions have become “an imperative, not an option” for companies, according to a survey of global corporate decision-makers – but the UK’s Brexit vote makes it less likely that international dealmakers will look to the country for opportunities in the near term.

Accountancy firm EY polled more than 1,700 company executives from across 45 countries and found about 57% of respondents expect to be on the hunt for deals over the next 12 months, the second-highest percentage in the seven years EY has run the survey.