Transactions UK

  • April 23, 2024

    RGL Confirms Woodford Claim Against Hargreaves Lansdown

    RGL Group confirmed Tuesday it is pursuing a fresh claim against investment firm Hargreaves Lansdown over the collapse of Woodford Equity Investment Fund.

  • April 23, 2024

    Weil-Led PE Firm Buys Audio Tech Biz Audiotonix

    French private equity firm PAI Partners said Tuesday that it has agreed to acquire a majority stake in British audio technology business Audiotonix from its rival investment firm Ardian, in a deal guided by Weil Gotshal & Manges LLP.

  • April 23, 2024

    Energy Biz Kistos Completes £25M Buy Of EDF Unit

    Kistos Holdings PLC said on Tuesday that it has completed its £25 million ($31 million) purchase of EDF Energy (Gas Storage) Ltd. after winning the necessary clearance required under national security rules.

  • April 23, 2024

    Oil Biz 88 Energy To Raise $6.3M In Equity In UK, Australia

    Oil and gas explorer 88 Energy said Tuesday that it plans to raise approximately 9.8 million Australian dollars ($6.3 million) with a share placing in London and Australia to help pay for development of major projects.

  • April 23, 2024

    15 Pension Mega-Deals Forecast In Coming Months

    The U.K. pension deals market is set for another record year, with around 15 mega transactions worth up to £30 billion ($37 billion) expected to go ahead in the next few months, a retirement savings consultancy said Tuesday.

  • April 23, 2024

    KKR Pushes Smart Metering Investors To Accept £1.3B Bid

    Private equity giant KKR on Tuesday urged the shareholders of British energy infrastructure company Smart Metering who have not yet accepted its £1.3 billion ($1.6 billion) takeover offer to submit their shares by May 7.

  • April 23, 2024

    Freshfields-Led JD Sports Agrees To Buy US Rival For $1.1B

    JD Sports said on Tuesday that it has proposed to buy U.S. athletic fashion retailer Hibbet Inc. for approximately $1.08 billion as the U.K. sportswear store chain eyes expansion in the American southeast.

  • April 22, 2024

    Freshfields-Led CVC Unveils Range On $1.7B Amsterdam IPO

    European private equity giant CVC Capital Partners PLC, represented by Freshfields Bruckhaus Deringer LLP, on Monday set a price range on initial public offering estimated to raise about €1.6 billion ($1.7 billion), mostly benefiting selling shareholders.

  • April 22, 2024

    Med Tech Founder Denies Deceiving Investors For $20M Sale

    The co-founder of a medical technology business has denied concealing his financial interest in a $20 million deal to purchase shares in his company, claiming he was never told it was important to reveal the seller's identity to the investment company.

  • April 22, 2024

    Tesco Begins £1B Share Buyback Program

    Tesco PLC on Monday announced the rollout of the first chunk of its share repurchase program, worth up to £1 billion ($1.2 billion), as it seeks to cut the size of its outstanding share capital.

  • April 22, 2024

    Travers Smith Steers Doormaker's £788M Bid For UK Rival

    Quanex Building Products Corp. has offered to buy all the shares of door and windows company Tyman PLC for £788 million ($971 million), the companies said Monday, in a deal guided by Travers Smith LLP, Foley & Lardner LLP and Latham & Watkins LLP.

  • April 22, 2024

    Frenkel Topping Acquires North West Law For £2.75M

    Specialist advisory firm Frenkel Topping said Monday that it has acquired North West Law Services Ltd. for £2.75 million ($3.3 million) to expand its activities within the personal injury and clinical negligence advisory market.

  • April 29, 2024

    Clifford Chance Adds Private Capital Pro From Paul Hastings

    Clifford Chance LLP has recruited an investments expert to join its London office as a partner, as the firm looks to add "firepower" to its global financial markets team.

  • April 22, 2024

    Fund Administrator Eyes $21M Deal For JPMorgan Chase Biz

    Jersey-based fund administrator JTC PLC said Monday it has offered to buy a trust administration business owned by JP Morgan Chase Bank NA for $21 million, a move it believes will strengthen its presence in the U.S.

  • April 22, 2024

    TotalEnergies To Take Over Malaysian Gas Biz For $530M

    TotalEnergies SE said on Monday it has agreed to buy Sapura Upstream Assets Sdn Bhd's 50% interest in Malaysian gas producer and operator SapuraOMV Upstream Sdn for $530 million, a move by the French energy giant to boost its output.

  • April 22, 2024

    Kirkland-Led Blackstone Bids $1.2B For Music Biz Hipgnosis

    Private equity firm Blackstone has tabled an enhanced $1.2 billion bid for U.K. music royalties investment company Hipgnosis, countering an offer from U.S. royalties firm Concord Chorus.

  • April 19, 2024

    Taxation With Representation: Kirkland, Cleary, O'Melveny

    In this week's Taxation With Representation, Resideo Technologies Inc. announced plans to buy Snap One Holdings Corp., APi Group said it bought an elevator maintenance company, Prysmian said it agreed to purchase Encore Wire, and Sayari said it closed on an investment from TPG.

  • April 19, 2024

    Mondi Drops Pursuit Of DS Smith After Int'l Paper Deal

    British packaging company Mondi officially dropped out of its running battle with International Paper to buy DS Smith on Friday after the two latter companies struck a more than $7 billion deal to join forces earlier this week.

  • April 19, 2024

    Energy Investor Aquila To Return £17.5M To Shareholders

    Energy investment company Aquila Energy said Friday that it is planning to buy back £17.5 million ($21.7 million) worth of its shares at an approximately 65% premium to return excess capital to its shareholders.

  • April 19, 2024

    UK Litigation Roundup: Here's What You Missed In London

    This past week in London has seen U.K. holiday resort chain Butlins target Aviva and a huddle of insurers, Meta and WhatsApp tackle a patents claim by telecommunications company Semitel, an ongoing construction dispute between Essex County Council and Balfour Beatty, and Formycon AG hit a pharmaceutical company for infringing medical products. Here, Law360 looks at these and other new claims in the U.K.

  • April 19, 2024

    Bank Of Cyprus Rolls Out €25M Share Buyback

    Bank of Cyprus Holdings PLC on Friday launched a share buyback program worth up to €25 million ($26.6 million) aimed at lowering its outstanding share capital.

  • April 19, 2024

    UK Real Estate Investor Sells 65 Properties For £16M

    Home REIT PLC said Friday it has sold a further 65 properties from its portfolio for £15.9 million ($19.8 million) as the troubled U.K. social housing real estate company looks to cut its debt.

  • April 19, 2024

    Shareholders Sell 7% Of Stock Of Fonix Mobile For £15M

    Mobile payments company Fonix Mobile said Friday that a group of its shareholders have successfully sold more than 6.6 million of its shares and raised proceeds of approximately £15 million ($19 million) to "satisfy strong institutional demand."

  • April 19, 2024

    Schneider Electric In Early Talks With US Software Biz

    French energy management giant Schneider Electric SE confirmed on Friday that it is in preliminary talks with U.S. infrastructure software group Bentley Systems Inc. over "a potential strategic transaction."

  • April 18, 2024

    Ex-Autonomy CEO Wanted Whistleblower Fired, Ex-GC Says

    Former Autonomy CEO Michael Lynch thought a finance department whistleblower was "trying to destroy the company" and wanted him fired, the software company's former U.S. general counsel testified Thursday in a criminal fraud trial over claims Lynch conned HP into buying the British company at an inflated price of $11.7 billion.

Expert Analysis

  • What To Expect From A Simplified EU Merger Control System

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    The European Commission’s draft amendments to the EU merger control system, expected to be formally adopted shortly, reduce its administrative burden and expand the scope of the simplified procedure to additional categories of transactions, providing a welcome development for companies and their advisers, say Axel Gutermuth and Lukas Šimas at Arnold & Porter.

  • How The Pandemic And UK Security Law Are Changing Deals

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    Deal makers must consider how the COVID-19 pandemic has shaped the approach to material adverse change provisions in the U.K. and U.S., and how the new U.K. National Security and Investment Act regime will affect investors across the globe seeking to acquire material influence in a U.K. company, say attorneys at Covington.

  • 3 Foreign Investment Issues Affecting Cross-Border Deals

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    Now more than ever, managing the increasingly complex foreign direct investment considerations for successfully completing cross-border transactions requires parties to be attentive to the evolving regulatory landscape, particularly in the U.K. and EU, say Chase Kaniecki and William Dawley at Cleary.

  • A Review Of The New UK Financial Services And Markets Bill

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    In revoking retained EU law and replacing it with U.K.-specific legislation, the new Financial Services and Markets Bill should mean a less cumbersome and more accessible regulatory regime than the existing patchwork of requirements, with provisions that address consumers’ concerns that they were not adequately protected, say attorneys at Ashurst.

  • Tracking The Global Move Toward Tighter Mergers Scrutiny

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    The recent merger control case of Vivendi and Lagardère in France is indicative of a global trend of competition authorities applying stricter standards to concentrations and pursuing an increasingly aggressive enforcement agenda, particularly in the media sector, says Jérémie Marthan at White & Case.

  • Dutch Merger May Promote Behavioral Remedies Across EU

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    A Dutch tribunal's recent clearing of the Sanoma-Iddink deal might further encourage merging parties in the EU to offer — and government agencies to accept — behavioral remedies, which was rarer when more emphasis was put on divestments, says Robert Hardy at Greenberg Traurig.

  • Proposed Foreign Subsidy Regulation Has Political Overtones

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    The European Commission's proposed Foreign Subsidies Regulation aims to prevent subsidies that have a distortive effect on competition from being granted to foreign companies, but in directing it against governments that use companies to extend their influence in the EU, the implications are clearly political, say Lena Sandberg and Yannis Ioannidis at Gibson Dunn.

  • Early Trends In UK National Security Reviews Of Transactions

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    The U.K.'s move to block an intellectual property deal between Beijing Infinite Vision Technology and the University of Manchester — the first such prohibition under the recently implemented National Security and Investment Act — is part of a growing body of published decisions that provides useful lessons on achieving prompt security clearance, say attorneys at Arnold & Porter.

  • Guidance Notes Offer Insight On UK National Security Regime

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    The U.K. government recently published long-awaited market guidance notes that add a greater level of transparency regarding the national security and investment regime, providing welcome guidance to businesses and their legal advisers on submitting transaction notifications, say attorneys at Cooley.

  • Ruling On EU Commission Merger Reviews Signifies U-Turn

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    In validating the European Commission's new policy of using Merger Regulation Article 22 to review cases that do not qualify under the merger control rules of the requesting member state, the General Court has demonstrated that the EU is prepared to move the goal posts on well-established commission policy, say attorneys at King & Spalding.

  • Where New UK And EU Vertical Agreements Rules Diverge

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    The lack of alignment between new EU and U.K. rules on vertical agreements is likely to present challenges to multinational businesses, and it would be prudent for legal advisers and companies to bear in mind the most stringent obligations of both, says Robert Bell at Armstrong Teasdale.

  • A Look Ahead At What The German M&A Market Holds In Store

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    Despite signs of a possible recession, there is still significant M&A activity in the German market, with long-term strategic planning, private equity investors, multiparty involvement and even the state all playing an important role, says Michael Ulmer at Cleary.

  • Tips For Handling Audio Data In E-Discovery Post-Pandemic

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    The rise of remote meetings during the COVID-19 pandemic has boosted the volume and importance of audio data in e-discovery — so organizations in highly regulated industries must collect and process that data, and establish complex strategies to manage their audio records, says Jack Bullen at FTI Consulting.

  • Agreement Among Litigants Key To Using E-Discovery Tech

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    Parties are increasingly using e-discovery technologies to control costs, but as a New York federal court order in Actos Antitrust Litigation shows, a well-drafted, negotiated protocol allows them to address potential objections prior to use and helps protect against later claims of incomplete production, say attorneys at McGuireWoods.

  • 4 Ways M&A Deals Are Changing

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    There are signs that the market may be cooling, but recent trends in M&A transactions reflect more than just market strength and indicate that there has been a more general change in deal approach, say attorneys at DLA Piper.

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