Transactions UK

  • April 05, 2024

    Cloud Biz Denies Owing Telecom Execs Over Bad Sale

    A cloud technology business has denied owing directors of a telecommunications company £1.5 million ($1.9 million) left unpaid after it bought their business, claiming the money due is offset by the £2 million it lost from the sale.

  • April 12, 2024

    Fieldfisher Expands Pensions Practice With 4 PwC Hires

    European law firm Fieldfisher LLP has announced it is bolstering its U.K. pensions practice by hiring a partner, two directors and an associate from PwC UK.

  • April 05, 2024

    French Shipping Giant's £605M Offer For Wincanton Lapses

    Wincanton PLC said on Friday that an attempt by Ceva Logistics, a subsidiary of French shipping giant CMA CGM SA, to buy the British supply chain group for £605 million ($764 million) has expired.

  • April 05, 2024

    US Food Processor JBT Preps €3.5B Bid For Icelandic Rival

    Food-processing technology giant JBT Corp. said on Friday that it plans to make a recommended €3.5 billion ($3.8 billion) offer for Icelandic rival Marel HF in May.

  • April 04, 2024

    Novo Holdings, Catalent Reset Review Clock On $16.5B Deal

    Novo Nordisk Foundation has given the Federal Trade Commission more time for an initial review of Novo Holdings' plan to acquire Catalent in a deal that values the pharmaceutical services company at $16.5 billion.

  • April 04, 2024

    Mayer Brown Adds Former KPMG Tax Specialist In London

    Mayer Brown has added a former KPMG tax professional to its London office to advise clients on asset management and fund matters in the U.S., Europe and the Middle East, the firm announced.

  • April 04, 2024

    Auto Engineering Firm Dowlais Begins £50M Share Buyback

    Slaughter and May-advised Dowlais Group PLC on Thursday kicked off its previously announced share repurchase program worth up to £50 million ($63 million), aimed at lowering its outstanding share capital and rewarding investors.

  • April 04, 2024

    Insurer Resolution Life To Buy New Zealand Biz For $247M

    Resolution Life said on Thursday that its Australasian arm has agreed to buy Asteron Life, an insurer based in New Zealand, for 410 million New Zealand dollars ($247 million), as the global group eyes entry into the country's growing insurance sector.

  • April 04, 2024

    Biopharma Biz Faron Raises €4.8M With Equity Issue

    Faron Pharmaceuticals Ltd. said Thursday it has raised €4.8 million ($5.2 million) in a share placing aimed at boosting its finances and supporting its research work.

  • April 04, 2024

    STM Wins Regulatory Approval For £4.5M Pension Biz Sale

    Financial services company STM said on Thursday that the City watchdog has approved the sale of its self-invested personal pensions unit to its chief executive for £4.5 million ($5.7 million), part of a wider sale of the business.

  • April 04, 2024

    Standard Life Bags Insurer's Pension Plan In £95M Deal

    Standard Life has completed a £95 million ($120 million) buy-in of a pension scheme sponsored by Brit Insurance in a deal guided by Burges Salmon LLP.

  • April 04, 2024

    Mondi £5.1B Offer Deadline For DS Smith Extended

    Packaging business DS Smith said Thursday that its rival Mondi PLC has been granted extra time to make a £5.1 billion ($6.5 billion) all-share offer as a bidding war for DS with International Paper Co. continues.

  • April 04, 2024

    UK Deepens Probe Into Vodafone-Three Telecoms Merger

    Britain's antitrust authority said Thursday that it has launched an in-depth probe into plans by Vodafone and Three to merge their U.K. telecommunications networks to create a £16.5 billion ($21 billion) mobile operator after the companies failed to alleviate competition concerns.

  • April 03, 2024

    Genmab Builds Oncology Portfolio With $1.8B Deal

    Danish biotechnology company Genmab announced Wednesday that it would acquire private cancer drugmaker ProfoundBio for $1.8 billion in cash, a move set to beef up Genmab's oncology portfolio and position the company as a competitor to other biotech companies that have made similar deals in the antibody drug conjugate space in recent months.

  • April 03, 2024

    Swiss Solar Power Co. Raises $227.5M With Rights Issue

    Meyer Burger Technology AG said Wednesday it has successfully raised 206.75 million Swiss francs ($227.5 million) via a capital increase, as the solar panel maker looks to secure new funding and expand production in the U.S.

  • April 03, 2024

    Fintech Alpha Pushes Plan To List On London's Main Market

    Alpha Group International PLC on Wednesday confirmed its plan to shift its shares to the London Stock Exchange's main market to boost its reputation and its business prospects.

  • April 03, 2024

    Kirkland-Led Goldman Sachs Unit Buys Stake In Credit Fund

    Goldman Sach's private equity unit has acquired Italian asset manager Azimut's 20% stake in private credit fund Kennedy Lewis for $225 million, the companies said Wednesday.

  • April 03, 2024

    Insurer Lands Battery Brand Pension Scheme In £44M Deal

    Insurer Just Group said Wednesday it has completed a £44 million ($55.3 million) buy-in of a pension scheme sponsored by battery and lighting brand Energizer Group Ltd.

  • April 03, 2024

    UK Vehicle Testing Co. Buys US Rival For Up To $30M

    AB Dynamics PLC, a specialist in testing transportation products and services, said on Wednesday it has bought Venshure Test Services LLC for up to $30 million, as it seeks to expand its electric vehicle battery expertise.

  • April 03, 2024

    Shipping Giant Buys 10% In Volvo-Renault Electric Van JV

    French container shipping giant CMA CGM Group has joined Renault and Volvo's electric van joint venture to help energy transition in the sector for light commercial vehicles, Renault said on Wednesday.

  • April 02, 2024

    UK Makes 2027 Commitment To 1-Day Securities Settlement

    HM Treasury has said that Britain will start a one-day cycle for securities trade settlement by December 2027, bringing the country into harmony with other markets to reduce the risk that those involved will fail to meet their obligations.

  • April 02, 2024

    Ashurst-Guided Winemaker Bids £46M For UK Spirits Group

    The English sparkling wine maker Nyetimber said on Tuesday that it has agreed to buy The Lakes Distillery Company PLC, a liquor producer, for approximately £46.1 million ($57.9 million), as it looks to capture a slice of the growing international spirits market.

  • April 02, 2024

    Biotech Firm Redx Eyes Delisting From London Market

    Redx Pharma PLC proposed on Tuesday that it would cancel trading in its shares on the London Stock Exchange and re-register as a private business, citing constraints on market liquidity and the regulatory burdens that come with being a public firm.

  • April 02, 2024

    A&O-Led Furnace Co. To Buy Alumina Producer For $430M

    RHI Magnesita NV, an Austria-based manufacturer of industrial furnace components, has agreed to buy Resco Group, a U.S. business that produces heat-resistant materials, for up to $430 million, the companies said.

  • April 02, 2024

    CMS Guides Pensions Insurer On £870M De Beers Deal

    Pension Insurance Corp. PLC said Tuesday that it has covered £870 million ($1.1 billion) of pension liabilities for diamond company De Beers in the U.K. as part of a long-term strategy.

Expert Analysis

  • Why Int'l Investors Should Keep An Eye On German M&A Regs

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    While German reform proposals will digitize corporate law formalities that have long been immune to change, international limitations remain, particularly for countries outside the European Union, as Germany moves to tighten regulatory hurdles to control inbound investment, say Marcus Geiss and Sonja Ruttmann at Gibson Dunn.

  • CMA Review Could Help Shape UK's AI Landscape

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    The Competition and Markets Authority's recent review of the U.K. market for artificial intelligence foundation models is likely to feed into its recommendations concerning future legislative and regulatory changes, but may be overtaken by fast-changing developments, say lawyers at Cooley.

  • Microsoft Takeover Shows The Need For EU-UK Cooperation

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    The differing European Commission and U.K. Competition and Markets Authority outcomes regarding Microsoft's planned acquisition of Activision Blizzard demonstrate the need for better cooperation in the post-Brexit era, but the regulators still follow a rigorous approach and ultimately convergence may prevail over divergence, say Salomé Cisnal de Ugarte and Raphaël Fleischer at King & Spalding.

  • The Potential Benefits Of New EU Merger Control Rules

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    The core objective of a newly adopted EU Commission package is to simplify merger review procedures, which is an evolution that is more than welcome, especially in light of the very recent regulation on foreign subsidies that imposes additional burdens on M&A transactions, say lawyers at McDermott.

  • Growing EU Scrutiny Increases Hurdles For Foreign Investors

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    The application of the EU Foreign Subsidies Regulation from July will bring further oversight to many large deals, and together with bolt-on strategies, foreign investment regulation and antitrust enforcement, financial sponsors will need to start planning for compliance to avoid potential delays, say Anna Mitchell and Neil Hoolihan at Linklaters.

  • How The New UK Digital Markets Bill Will Affect CMA's Powers

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    The highly anticipated U.K. Digital Markets, Competition and Consumers Bill sets out far-reaching changes in terms of merger control and conduct requirements, but some are skeptical of the Competition and Markets Authority’s enhanced powers and potential for divergence in treatment between firms, say Ben Chivers, Stephen Whitfield ​​​​​​​and Nigel Seay at Travers Smith.

  • M&A Considerations For European Cos. Acquiring US Entities

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    As investment banks forecast a resurgence of mergers and acquisitions later this year, European companies seeking to acquire U.S. businesses should be aware of key procedural differences and federal regulatory requirements that will affect the process, timing and terms of the transaction, say attorneys at Mintz.

  • A Review Of The EU FDI Screening Regulation And Its Scope

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    The EU advocate general’s recent broad interpretation of the EU Foreign Direct Investment Screening Regulation takes account of some of the geopolitical challenges faced by the bloc, and may foreshadow a revision of the regulation and widen the scope of investments screened, say Vassilis Akritidis and Jean-Baptiste Blancardi at Crowell & Moring.

  • Key Takeaways From EU Proposal For Greenwashing Rules

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    If the proposal for a Green Claims Directive, with its enhanced rules on claims about a product or trader's environmental impact, is adopted, it will affect all businesses selling their products in the EU and bring major changes to the way those products are packaged and advertised, say attorneys at Shearman.

  • UK Investment Screening Inches Closer To US Regime

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    The recent agreement between the U.K. Cabinet Office and House of Commons concerning parliamentary scrutiny of the Investment Security Unit represents a step toward greater transparency of intervention in investments that may raise national security concerns, and underscores increasing alignment with the U.S. regime, say attorneys at Hogan Lovells.

  • UK Ruling Offers Useful Guidance To Insolvency Practitioners

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    The recent U.K. High Court ruling in a matter involving Sova Capital represents the first unsecured credit bid to be approved by an English court, demonstrating a pragmatic approach to complex sanctions-related administrations and identifying a novel solution for insolvency practitioners to maximize value for the benefit of creditors, say attorneys at Katten.

  • Opinion

    Thomas Report Is Final Straw — High Court Needs Ethics Code

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    As a recent report on Justice Clarence Thomas' ongoing conflicts of interest makes evident, Supreme Court justices should be subject to an enforceable and binding code of ethics — like all other federal judges — to maintain the credibility of the institution, says Erica Salmon Byrne at Ethisphere.

  • Ofwat's New Guidance For Water Projects: Key Takeaways

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    While increased competition is a laudable aim, the U.K. Water Services Regulation Authority's introduction of direct procurement for customers by default for projects above a size threshold could have ramifications for the financial stability of the companies delivering major water infrastructure, say Jennifer Charles and Marianne Anton at Watson Farley.

  • Court Ruling Strengthens EU Stance On Non-Notifiable M&A

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    The recent European Union Court of Justice's decision in Towercast can be seen as part of a pattern of increasingly rigorous scrutiny of M&A, and provides scope for greater intervention by national competition authorities on acquisitions by dominant companies that do not meet the EU or national merger control thresholds for notification, say attorneys at Herbert Smith.

  • How Changes To 'Acting In Concert' Will Affect UK Takeovers

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    The recent changes made to the rules by the U.K. Takeover Panel on who is presumed to be acting in concert will be of most interest to parties proposing to make a bid for a U.K. listed company, and give welcome clarity as to how the U.K. takeover regime operates, say attorneys at Herbert Smith.

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