Transactions UK

  • July 09, 2024

    Linklaters' Earnings Hit Record £2.1B On M&A Rebound

    Linklaters LLP said on Tuesday that its earnings have surpassed the £2 billion ($2.6 billion) mark for the first time, which it attributed to a strategic focus on complex cross-border transactions and serving large clients worldwide.

  • July 08, 2024

    UK Clears Thermo Fisher's $3.1B Olink Buy

    Britain's competition enforcer indicated Monday that it will not challenge Thermo Fisher Scientific Inc.'s planned $3.1 billion bid for Swedish biotech firm Olink Holding AB after the agency launched an initial investigation of the deal earlier this year.

  • July 08, 2024

    Wright Johnston-Led Macfarlane Buys Peer

    Macfarlane said Monday that it has purchased industrial packaging maker Polyformes Ltd. for up to £11.5 million ($15 million) through one of its subsidiaries to boost its own protective packaging business, in a deal guided by Scottish law firm Wright Johnston & Mackenzie LLP.

  • July 08, 2024

    Linklaters-Led HgCapital Raises £24.3M In Software Biz Exit

    British investment company HgCapital said Monday that its private equity arm Hg has agreed to sell its remaining interest in business software provider TeamSystem to U.S. private equity firm Hellman & Friedman, raising approximately £24.3 million ($31 million) for the trust.

  • July 08, 2024

    Aegon Begins €200M Share Buyback Program

    Aegon NV began a share repurchase program worth up to €200 million ($220 million) on Monday, a move expected to lower the size of the Dutch pensions and insurance specialist's outstanding share capital.

  • July 08, 2024

    Norton Rose Helps Carlsberg Buy 40% Stake In Brewery JV

    Carlsberg AS said Monday that it will buy the entire 40% stake in a U.K. brewing joint venture with British pub operator Marston's PLC for £206 million ($264 million) to integrate this with Britvic to form a brewery giant.

  • July 08, 2024

    Britvic Backs Sweetened £3.3B Carlsberg Takeover Offer

    Britvic PLC said Monday that it is backing an improved £3.3 billion ($4.2 billion) cash takeover offer from Danish brewer Carlsberg AS that would create a British beer and soft drinks giant.

  • July 05, 2024

    EU Watchdog Sets Out Sustainability Reporting Expectations

    The European Union's financial markets regulator on Friday set out its expectations on new sustainability reporting standards for large companies with shares listed on stock exchanges and their regulators.

  • July 05, 2024

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

    This past week in London has seen collapsed sports television company Arena Television hit Bank of Scotland and Lloyds Bank with a claim, James Vorley, the Deutsche Bank metals trader convicted of fraud, sue his former employer, and journalist John Ware file a defamation claim against Pink Floyd band member Roger Waters and Al Jazeera Media Network. Here, Law360 looks at these and other new claims in the U.K.

  • July 05, 2024

    Matrix KC Richard Hermer Tapped For Attorney General

    Matrix Chambers' human rights barrister Richard Hermer KC will serve as the U.K.'s attorney general in a surprise appointment from newly-elected Prime Minister Keir Starmer late Friday.

  • July 05, 2024

    Cybersecurity Firm Noventiq Kills Plans To List Via SPAC Deal

    London-based cybersecurity services provider Noventiq Holdings PLC and blank-check company Corner Growth Acquisition Corp. have canceled their plans to merge in a deal that sought to take Noventiq public in the U.S. at an estimated $1 billion value, citing market conditions.

  • July 05, 2024

    Shabana Mahmood Named Labour's New Justice Secretary

    Prime Minister Keir Starmer named former barrister Shabana Mahmood as the Labour government's new justice secretary on Friday following a sweeping victory in the U.K. general election.

  • July 05, 2024

    A&O Shearman-Led GSK Signs €1.4B Deal For Vaccines

    British pharma giant GlaxoSmithKline has amended its collaboration agreement with German biopharmaceutical company CureVac to acquire full rights to develop, manufacture and commercialize globally the candidate vaccines for influenza and COVID-19 in an approximately €1.4 billion ($1.5 billion) deal.

  • July 05, 2024

    Starmer Picks Reeves For Treasury To Steer Growth Aims

    Prime Minister Keir Starmer has handed the reins of the U.K.'s fiscal and economic policy to Rachel Reeves, formally naming her as the next chancellor of the exchequer in the first of a round of cabinet appointments on Friday.

  • July 05, 2024

    Glencore Gets Canadian OK For $7B Buy Of Steelmaking Biz

    Glencore PLC said Friday that Canada has given it the go ahead for its $6.93 billion acquisition of the steelmaking coal business of Teck Resources Ltd., clearing the final hurdle for the Anglo-Swiss commodities and mining giant.

  • July 05, 2024

    Starmer Starts Work As Cabinet Appointments Expected

    Keir Starmer, the newly elected prime minister, promised change that focuses on the economy and wealth creation as he prepared on Friday to begin appointing cabinet ministers to form the Labour Party's first government since 2010.

  • July 04, 2024

    Labour Gov't To Prioritize Competitive Financial Regulation

    The Labour government is expected to step up regulatory change to make the country's financial services more innovative and globally competitive, with centralized oversight of the watchdogs to ensure they help consumers and facilitate economic growth.

  • July 04, 2024

    Labour's Big UK Election Win Clears Way For Tax Reform

    Labour's victory in the U.K. general election clears the way for plans to raise taxes on the rich to close a widening spending gap, but it could also mean wider fiscal reform in the new government's first budget later this year.

  • July 04, 2024

    Labour Sweeps Tories From Power In UK Election Rout

    Keir Starmer was poised to become Britain's next prime minister on Friday after his Labour Party ousted Rishi Sunak's Conservatives in a landslide general election victory, ending 14 years of Tory government with a pledge of "national renewal."

  • July 04, 2024

    UK Insurer Utmost Group Plans £200M Buy Of Rival

    Utmost Group PLC said Thursday that it has agreed to buy rival insurer Lombard International Assurance Holdings Sarl for more than £200 million ($255 million), strengthening its presence in key European markets.

  • July 04, 2024

    UK Insurance Investor Expands In Poland, Buys Broker

    Insurance acquisition vehicle PIB Group Ltd. said Thursday that it has bought a Polish broker, Nord Group, strengthening its foothold in the Eastern European country.   

  • July 04, 2024

    Investor NewRiver Buys Property Manager For Up To £9M

    Property investor NewRiver REIT PLC said on Thursday that it has bought Ellandi Management Ltd., an asset and development manager, for up to £9 million ($11.5 million) in a move to diversify its business and boost its assets under management.

  • July 04, 2024

    British Biz To Buy US Material Analysis Co. For $260M

    Spectris PLC said Thursday that it has acquired SciAps Inc., a U.S. manufacturer of analysis instruments, for up to $260 million as the British high-tech instrument maker seeks to expand its presence in North America.

  • July 04, 2024

    Pension Deals Market 'Driven By Transactions Under £100M'

    The record number of pension deals in the U.K. last year was driven primarily by smaller transactions of less than £100 million ($127.6 million), a consultancy has said.

  • July 04, 2024

    Tech Co. Knew IP Woes From Soured Deal, AI Video Biz Says

    An AI video analytics business has told a London court that a security technology company it accused of failing to pay up after acquiring its intellectual property should have been aware that its CCTV-analyzing technology might contain bugs.

Expert Analysis

  • 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.

  • UK Review May Lead To Lower Investment Screening Burden

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    The government’s current review of national security investment screening rules aims to refine the scope of mandatory notifications required for unproblematic deals, and is likely to result in much-needed modifications to minimize the administrative burden on businesses and investors, say lawyers at Simpson Thacher.

  • Tools M&A Deal Makers Can Use To Bridge Valuation Gaps

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    As macroeconomic headwinds reset valuation expectations, parties to merger and acquisition are increasingly looking to methods such as earnouts, vendor financing and minority transactions to bridge the valuation gap and get deals done, says Philip Herbst at Cleary.

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