Transactions UK

  • March 20, 2024

    Bank of Cyprus Eyes €137M Investor Return After ECB Nod

    The Bank of Cyprus Group said Wednesday it intends to boost shareholder returns to €137 million ($149 million) by launching a share buyback and ramping up dividends, after receiving the green light for both payouts from the regional banking watchdog.

  • March 20, 2024

    Swiss Watchdog To Inspect UBS Closely For Merger Impact

    The Swiss financial markets regulator said Wednesday it plans 40 on-site supervisory reviews at UBS AG in Switzerland and abroad and two in-depth stress tests in 2024 to assess the result of the bank's merger with Credit Suisse last year.

  • March 20, 2024

    Kirkland-Led PE Firm To Buy $700M Medical Component Biz

    Chemicals and technology company Johnson Matthey said Wednesday that it has agreed to sell all of its medical device components business to Montagu Private Equity for $700 million, ending its sale of "value businesses," in a deal guided by Kirkland & Ellis LLP.

  • March 20, 2024

    Slaughter And May Cuts Partner Promotions By Half In 2024

    Slaughter and May said on Wednesday that it is adding to its bench of up-and-coming leaders by promoting five lawyers to its partnership — only half the number it elevated in 2023.

  • March 20, 2024

    Dubai Won't Be Top Investor In Nasdaq After $1.6B Share Sale

    Nasdaq Inc. has said that Dubai will lose its spot as top shareholder in the U.S. stock exchange operator after it sells $1.6 billion worth of shares.

  • March 19, 2024

    EU Accuses Kingspan Of Skirting Merger Review Demands

    The European Commission on Tuesday accused construction materials supplier Kingspan Group of providing inaccurate or misleading information during the review for the company's planned purchase of Trimo before ultimately abandoning the deal.

  • March 19, 2024

    Financial Advisor 'Siphoned' Fees In Legal Fund Fraud Case

    A former financial adviser allegedly siphoned £5.8 million ($7.4 million) from an investment fund via secret commission payments as part of a legal financing fraud, prosecutors told a London jury at the start of his criminal trial Tuesday.

  • March 19, 2024

    DIY Giant Wickes Starts 2nd Tranche Of £25M Buyback

    Wickes Group PLC on Tuesday rolled out the second half of its £25 million ($32 million) stock repurchase program aimed at lowering its outstanding share capital, as it reported a dip in revenue.

  • March 19, 2024

    Unilever To Spin Off Ice Cream Biz, Including Ben & Jerry's

    European consumer goods giant Unilever on Tuesday unveiled plans to separate its ice cream business, which includes Ben & Jerry's, as part of an effort to simplify and "streamline" its operations.

  • March 19, 2024

    IFF Selling Pharma Unit To French Co. Roquette In $2.85B Deal

    IFF, a maker of ingredients and additives for food, health and home-based products, said Tuesday it has agreed to sell its Pharma Solutions business to French plant-based ingredient maker Roquette at an enterprise value of up to $2.85 billion. 

  • March 19, 2024

    Mauritian Conglomerate Ups Bid For Shanta Gold To £156M

    Mauritius-based conglomerate ETC Holdings said Tuesday that it has bumped up its takeover bid for Shanta Gold Ltd. to £156.1 million ($198 million) in an effort to woo its shareholders to accept the offer.

  • March 19, 2024

    UK Energy Co. Fights To Deduct £2.5M Deal Advice Fees

    An investment holding company told the Supreme Court on Tuesday that £2.5 million ($3.2 million) it paid to Deutsche Bank and others for deals advice is tax-deductible because they were the "type of services procured all the time."

  • March 19, 2024

    London Software Co. Buys Online Marketing Biz For $54M

    Software company Team Internet said Tuesday that it has agreed to acquire online marketing business Shinez IO Ltd. and its subsidiaries for up to $54.1 million in a deal guided by two Israeli law firms.

  • March 19, 2024

    Healthcare Business PureTech Eyes $100M Share Buyback

    PureTech Health PLC on Tuesday proposed rewarding shareholders through a $100 million (£78.8 million) share repurchase program, following the sale of a subsidiary business.

  • March 19, 2024

    FCA Sets Out Priorities For New Financial Year

    The Financial Conduct Authority detailed on Tuesday its new priorities for the next financial year, setting out plans to protect consumers and boost competitiveness in Britain and to make better use of data.

  • March 19, 2024

    Diversified Energy To Buy Gas Assets For $410M

    U.S. oil producer Diversified Energy said Tuesday that it will buy natural gas assets from investment manager Oaktree Capital for $410 million, which will include hedging for protection against the fall in gas prices.

  • March 26, 2024

    DLA Piper Hires M&A Pro Carl Hotton From Freshfields

    DLA Piper has hired mergers and acquisitions professional Carl Hotton as an insurance partner from Freshfields Bruckhaus Deringer LLP.

  • March 19, 2024

    Freshfields Guides AstraZeneca In $2.4B Pharma Co. Deal

    AstraZeneca PLC said Tuesday that it will buy Fusion Pharmaceuticals, a biopharmaceutical company specializing in oncology, for up to $2.4 billion in cash to help it transform cancer treatments.

  • March 18, 2024

    Paul Hastings-Led Francisco Partners To Pay $1.2B For Jama

    Tech-focused private equity investor Francisco Partners has agreed to buy Portland, Oregon-based Jama Software from shareholders including Insight Partners and Madrona Ventures for $1.2 billion, the companies said Monday. 

  • March 18, 2024

    Proskauer Guides $58M Sale Of Seattle Reign NWSL Team

    The National Women's Soccer League's Seattle Reign FC will fall under new ownership as a group including men's soccer franchise Seattle Sounders FC and private equity giant Carlyle announced plans to buy the women's team in a deal that values it at $58 million.

  • March 18, 2024

    PE Biz Oakley Capital To Invest £9M In Optical Tech Biz

    Private equity investor Oakley Capital said Monday an associated fund has agreed to buy Horizons Optical for an undisclosed sum, a deal expected to pool in £9 million ($11.5 million) investment for the medical software business.

  • March 18, 2024

    Aviva Completes £937M Exit From Singapore Insurer

    Aviva PLC said Monday that it has sold its entire stake in Singapore Life Holdings Pte Ltd., or Singlife, for £937 million ($1.2 billion), giving Sumitomo Life Insurance Co. complete control of the company.

  • March 18, 2024

    Swiss Solar Energy Biz To Raise $226M For US Expansion

    Solar panels maker Meyer Burger said Monday that it is planning to raise approximately 200 million Swiss francs ($226 million) in equity Tuesday to benefit from "the highly attractive U.S. market" and to "stop sustained losses in Europe."

  • March 18, 2024

    Tobacco Giant BAT Begins First Phase Of £1.6B Buyback

    British American Tobacco PLC launched on Monday the initial part of a £1.6 billion ($2 billion) share buyback aimed at lowering its outstanding share capital, following the sale of a partial stake in its Indian business.

  • March 18, 2024

    Pfizer To Reduce Stake In Haleon To 24% Through Share Sale

    Haleon PLC said Monday that U.S. pharmaceutical titan Pfizer Inc. will reduce its stake in the British consumer healthcare company to 24%.

Expert Analysis

  • Czech Z-Trade Ruling Shows Benefit Of Compliance Program

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    With its recent Z-Trade fine reduction decision, the Czech Office for the Protection of Competition has for the first time put into practice its compliance program consideration policy, providing a further incentive for companies to implement such programs and underlining the office's intention to pay attention to them, say Vojtech Chloupek and Martin Taimr at Bird & Bird.

  • Lessons That May Be Learned From The Demise Of Made.com

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    With Made.com going into administration, companies that may face similar challenges should take on board that the earlier adequate preemptive planning is considered, the more financial and legal options there will be to avoid last minute firefighting and to focus instead on strengthening the business, says Eleni Michaela at Faegre Drinker.

  • Link Ruling Shows FCA's Wide Change-In-Control Powers

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    The Financial Conduct Authority's recent decision regarding the proposed acquisition of Link Fund Solutions is a reminder that the regulator has significant powers to attach conditions to its approvals and the advent of the Financial Services and Markets Bill could lead to the widening of those powers, say Charlotte Hill and Daniel Hirschfield at Taylor Wessing.

  • Takeaways For Transaction Parties After UK Acquisition Block

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    The U.K. government recently used its retrospective powers under the National Security and Investment Act for the first time to block Nexperia’s acquisition of Newport Wafer Fab, highlighting the considerations that parties have to evaluate when contemplating transactions in high-risk areas, say attorneys at Arnold & Porter.

  • Understanding The EU's New Foreign Subsidies Regulation

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    The European Parliament’s newly adopted Foreign Subsidies Regulation extends already wide-ranging European Union state aid powers and adds new layers of deal conditionality, so companies will need to carefully consider how the regulation may affect their EU-bound activities, say Peter Camesasca and Sophie Bertin at Covington.

  • A Look At The Increase In Employee Ownership Trusts

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    The rise in employee ownership trusts has brought certain challenges, but with tax advantages and a proven positive impact on individuals, businesses and regional economies, employee buyouts are set to become more popular and could outstrip mainstream deal activity, says ​​​​​​​Lisa Hayward at Birketts.

  • EU Basel III Bank Reforms May Weaken Securities Market

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    Recent proposals from the Council of the European Union's review of Basel III bank capital regulatory reforms did not adopt substantive changes urged by the market for the securitization framework, and may have a dampening effect on the competitiveness of European securitizations, say attorneys at Hogan Lovells.

  • 5 Factors Driving Longer Prenotifications In EU Mergers

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    Attorneys at Linklaters discuss reasons, including transaction complexity and a higher standard of proof, why the duration of the prenotification process in European Commission merger control cases has generally increased over the last 10 years, say attorneys at Linklaters.

  • Series

    My Favorite Law Prof: How I Learned To Argue Open-Mindedly

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    Queens College President Frank Wu reflects on how Yale Kamisar’s teaching and guidance at the University of Michigan Law School emphasized a capacity to engage with alternative worldviews and the importance of the ability to argue for both sides of a debate.

  • New Clarity On Directors' Creditor Duty In Insolvency Context

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    The recent case of BTI 2014 v. Sequana, the first to consider the creditor duty at U.K. Supreme Court level, provides directors and insolvency practitioners with significant guidance on how close to insolvency the company needs to be for the creditor duty to be engaged, say attorneys at Shearman.

  • German Draft Bill Reflects Trend Toward New Antitrust Tools

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    A recently proposed amendment to the German Act against Restraints on Competition continues the trend in Europe to equip authorities with greater powers, shifting from a more traditional approach to a more extensive market protection tool, say attorneys at Gibson Dunn.

  • How COVID, Supply Chain Woes Are Fueling Air Cargo M&A

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    The pandemic has triggered a shift in the air cargo market, with supply chain issues and demand for expedited service attracting new investment — and M&A interest will likely continue, even as inflation and other factors damp enthusiasm, say Solange Leandro and Alison Weal at Watson Farley.

  • 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.

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