Transactions UK

  • February 26, 2024

    Simmons & Simmons Hires PE Real Estate Pro From MoFo

    Simmons & Simmons LLP has strengthened its corporate practice with the addition of a private equity real estate partner to its London office from Morrison Foerster LLP — and the firm says more private equity hires are on the way.

  • February 26, 2024

    Pandox To Sell Doubletree By Hilton Montreal For $59M

    Pandox AB said on Monday it has agreed to sell the DoubleTree by Hilton Montreal hotel and its operations for around 80 million Canadian dollars ($59 million) to an unnamed buyer.

  • February 26, 2024

    Packaging Co. Bunzl To Acquire Foodservice Biz For £339M

    Packaging materials company Bunzl PLC said Monday that it has agreed to acquire 80% of foodservice distributor Nisbets for an initial consideration of £339 million ($430 million) from British investment company Key West Holdings to complement its catering equipment distribution business.

  • February 26, 2024

    Insurance M&A Hits 10-Year Low Amid Political Uncertainty

    The number of global mergers and acquisitions among insurers was at its lowest level for a decade in 2023, according to research published on Monday by Clyde & Co. that shows companies are reacting cautiously to heightened geopolitical risks.

  • February 26, 2024

    Wincanton Considering Alternative Offer, CEVA Ups Bid

    Wincanton said Monday that shipping giant CMA CGM has increased its takeover offer for the British logistics company to approximately £803 million ($1 billion), and that it has also received a "possible competing offer" from another bidder that it did not name.

  • February 26, 2024

    Real Estate Biz Sells Scottish Site In £111M Deal

    Hammerson PLC, the owner of malls including the Brent Cross center in London, said Monday that it has sold a shopping center in the Scottish city of Aberdeen for £111 million ($141 million) in cash to an affiliate of Lone Star Real Estate Fund VI LP.

  • February 26, 2024

    Skadden Leads Iliad's Buy Of 20% Stake In Tele2 For $1.3B

    French telecommunications group Iliad SA said on Monday that it will take a 19.8% stake in Swedish mobile network provider Tele2 AB for 13 billion Swedish kronor ($1.3 billion), a move it said will help boost "innovation" at both firms in next-generation networks.

  • February 26, 2024

    Addleshaw Goddard Hires Macfarlanes Pro For Wealth Team

    Addleshaw Goddard LLP has appointed former Macfarlanes LLP lawyer Laura Uberoi as partner and head of its newly created private wealth team in London.

  • February 26, 2024

    Corrs Advises Saint-Gobain On $3B Deal For Australia's CSR

    French construction materials giant Saint-Gobain said Monday that it will buy Australian rival CSR Ltd. for a total of 4.5 billion Australian dollars ($3 billion) in cash in a move to establish its presence in the Asia-Pacific materials market.

  • February 23, 2024

    Barclays Must Face Trimmed Suit Over $17.6B Over-Issuance

    Barclays PLC and a number of its top executives must face a trimmed version of a proposed class action over a financial reporting error that led to Barclays selling more than $17.6 billion in securities over its maximum registered amount, a New York federal judge ruled Friday.

  • February 23, 2024

    Skadden-Led Criteo Wants 'Constructive' Talks With Activist

    Skadden-advised French advertising technology firm Criteo responded Friday to a call from activist investor Petrus Advisers to "evaluate all ownership options" and shake up its board, releasing a statement saying it is "carefully reviewing" Petrus' letter and hopes to "continue to engage constructively."

  • February 23, 2024

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

    This past week in London has seen Tesco target competing retailer Lidl with a copyright claim as they battle in the Court of Appeal over the design of Tesco’s Clubcard, the directors of a taxi business sue the creator of an AI route mapping app for professional negligence, Global Aerospace Underwriting Managers tackle an aviation claim by an Irish investment company, and Robert Bull hit with a general commercial contracts claim by Hancock Finance.

  • February 23, 2024

    Woodside Selling 15.1% Stake In Aussie Gas Project For $1.4B

    Australia's Woodside Energy said Friday it will sell a 15.1% stake in its Scarborough gas project to Japan-based JERA at a $1.4 billion value, creating a partnership that will help boost the project's development while creating opportunities for further collaboration. 

  • February 23, 2024

    Ex-Telecoms Execs Deny Knowledge Of Bribery In £11M Sale

    Three former directors of a telecommunications company allege that a cloud-technology business owes them more than £1.5 million ($1.9 million) left unpaid after it bought their business, while denying claims that they failed to disclose ongoing legal disputes that subsequently devalued the shares.

  • February 23, 2024

    Allianz To Launch €1B Buyback, Boost 2023 Dividend

    Allianz SE has announced a new share buyback program worth up to €1 billion ($1.1 billion), alongside plans to raise its dividend as it looks to increase its returns to shareholders.

  • February 23, 2024

    Clifford Chance Steers Volvo On Reducing Polestar Stake

    Volvo Cars AB said on Friday that it will distribute 62.7% of its existing stake in Swedish electric vehicle manufacturer Polestar to its own shareholders, allowing it to concentrate resources on its own development.

  • February 23, 2024

    Hogan Lovells-Led Energy Investor Eyes $200M Buyback

    Riverstone Energy Ltd. said Friday the energy-focused private equity firm will start a share buyback program worth up to $200 million of excess cash to its shareholders via a 1,050 pence ($13.30) per-share tender offer.

  • February 23, 2024

    Standard Chartered To Return $1B To Shareholders

    Standard Chartered PLC said on Friday it will return up to $1 billion to its shareholders with a new share repurchase plan after the multinational lender announced a rise in profits for the 2023 calendar year.

  • February 22, 2024

    Water Treatment Co. Selling Saudi Business For Up To $7M

    Mycelx Technologies Corp. of the U.S. on Thursday announced the sale of its Saudi Arabian business operations in a transaction worth up to $7.125 million, a move it said would help boost its product sales, while relinquishing its business obligations in the country.

  • February 22, 2024

    Deals Rumor Mill: Occidental, Kroger-Albertsons, BuzzFeed

    Occidental explores a $20 billion sale of Western Midstream, the FTC and some states could sue to block the $24.6 billion Kroger-Albertsons deal, and The Independent is taking over BuzzFeed's U.K. and Irish operations. Here, Law360 breaks down the notable deal rumors from the past week.

  • February 22, 2024

    Memery Crystal Guides Parent RBG On £2.7M Fundraising

    RBG Holdings PLC said on Thursday that it plans to raise a minimum of £2.7 million ($3.4 million) by selling new shares to directors, shareholders, and retail investors, as the legal and professional services group seeks to clean up its balance sheet.

  • February 22, 2024

    Mercedes Launches €3B Buyback Despite Brake On Economy

    Mercedes-Benz said on Thursday that it will reward investors with a share buyback program worth up to €3 billion ($3.3 billion), after the luxury carmaker reported an improvement in its cash flow despite supply-chain bottlenecks and economic volatility.

  • February 22, 2024

    Addleshaw Goddard-Guided REIT Weighs New £225M Offer

    Abrdn Property said Thursday it is now considering a rival takeover bid for the U.K. real estate investor from Urban Logistics REIT, which has made a 59.2 pence "share-for-share" offer. This values Abrdn at approximately £225 million ($285 million).

  • February 22, 2024

    Lloyds Bank To Return £2B To Investors As Profit Soars

    British lender Lloyds Banking Group PLC said on Thursday that it will reward shareholders with a £2 billion ($2.5 billion) buyback program, following a growth in profits of 57%.

  • February 22, 2024

    Fieldfisher-Led Tech Co. Agrees £430M Unit Sale To PE Biz

    Marlowe PLC said Thursday that it has agreed to sell some of its risk management assets to private equity firm Inflexion for £430 million ($545 million), as the U.K. business services and software specialist looks to fully focus on its core compliance practice.

Expert Analysis

  • Vodafone Decision Highlights Wide Scope Of UK's FDI Rules

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    The U.K. government’s recently imposed conditions required for its approval of Vodafone and Etisalat’s strategic relationship agreement under its National Security and Investment Act jurisdiction, illustrating the significance of the act as an important factor for transactions with a U.K. link, says Matthew Hall at McGuireWoods.

  • What Extension Of French FDI Control Means For Investors

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    The recently published French order on foreign investment control expands the regime's application to more sectors and at a lower threshold of share ownership, illustrating France's determination to maintain sovereignty over its supply chains in sensitive sectors, and adding new considerations for potential investors in these areas, say lawyers at Linklaters.

  • What To Expect For Private Capital Investment Funds In 2024

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    As 2024 gets underway, market sentiment in the private fundraising sphere seems more optimistic, with a greater focus on deal sourcing and operational optimizations, and an increased emphasis on impact and sustainability strategies, say lawyers at Ropes & Gray.

  • Cayman Islands Off AML Risk Lists, Signaling Robust Controls

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    As a world-leading jurisdiction for securitization special purpose entities, the removal of the Cayman Islands from increased anti-money laundering monitoring lists is a significant milestone that will benefit new and existing financial services customers conducting business in the territory, say lawyers at Walkers Global.

  • Acquisition Of AI Tech Poses Challenges For Media Industry

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    The artificial intelligence regulatory landscape is changing quickly, and media and entertainment companies planning to acquire AI technology through a merger, acquisition or licensing deal should be mindful of potential new compliance requirements and AI-specific insurance products, say lawyers at Covington.

  • Due Diligence Pointers After Entain Deferred Prosecution Deal

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    The Crown Prosecution Service's £615 million settlement with Entain last month signifies that the CPS is a serious enforcer of corporate crime, and illustrates the importance of carrying out a tailored risk assessment in preparation for and following an acquisition, say Matthew Cowie and Aziz Rahman at Rahman Ravelli.

  • What Can Be Learned From Adobe-Figma Merger Termination

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    The Competition and Markets Authority’s role in the recent termination of the proposed Adobe-Figma merger deal indicates the regulator's intention to be seen as a strong enforcer in the technology sphere, and serves as a warning for companies to address antitrust risks early on in the merger process, say Deirdre Taylor and Molly Heslop at Gibson Dunn.

  • How FCA Listing Regime Reform Proposals Are Developing

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    The Financial Conduct Authority’s recently proposed U.K. equity listings reforms maintain increased flexibility with a disclosure-based approach, but much of the new regime’s success will depend on the eligibility criteria used and whether additional governance will be required for inclusion, say lawyers at Debevoise.

  • US And UK Law Firms Continue Trend Of EU Expansion

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    A broad spectrum of U.S. and U.K. law firms are now seeking fresh opportunities in Europe's fastest growing and constantly evolving sectors by opening offices in strategic locations across the continent, says James Lavan at Buchanan Law.

  • A Look At 2023's Landmark Insolvency Developments

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    The insolvency landscape in 2023 witnessed pivotal court decisions that will continue to shape the industry in 2024, with a focus on refining director and administrator duties and obligations, and addressing emerging challenges, says Kerri Wilson at Ontier.

  • Regulating Digital Platforms: What's Changing In EU And UK

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    Lawyers at Mayer Brown assess the status of recently enacted EU and U.K. antitrust regulation governing gatekeeper platforms, noting that the effects are already being felt, and that companies will need to avoid anti-competitive self-preferencing and ensure a higher degree of interoperability than has been required to date.

  • An Overview Of European Private Investments in Public Equity

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    Although still fairly rare, private investments in public equity may continue to be an attractive option for some European issuers seeking to secure equity financing, and advisers planning such an investment should consider the various local options, requirements and norms, say lawyers at Sullivan & Cromwell.

  • UK Takeover Code Changes: Key Points For Bidders, Targets

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    Newly effective amendments to Rule 21 of the U.K. Takeover Code, which remove legal and administrative constraints on a target operating its business in the ordinary way during an offer, will add clarity for targets and bidders, and are likely to be welcomed by both, say lawyers at Davis Polk.

  • EU Rejection Of Booking.com Deal Veers From Past Practice

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    The European Commission's recent prohibition of Booking's purchase of Etraveli based on ecosystem theories of harm reveals a lower bar for prohibiting nonhorizontal mergers, and may mean increased merger scrutiny for companies with entrenched market positions in digital markets, say lawyers at Linklaters.

  • What Lawyers Can Learn From FDI Screening Report Findings

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    The recent European Commission report on the screening of foreign direct investments into the EU reveals how member states need to balance national security concerns with openness, and with more cross-border transactions subject to screening, lawyers must be alert to jurisdictional variances, says Jonathon Gunn at Faegre Drinker.

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