Transactions UK

  • July 01, 2024

    Tikehau Capital To Nab Over €200M Of Commercial Properties

    French retail firm Groupe Casino said Monday that it has agreed to sell 30 of its real estate properties to investment company Tikehau Capital for at least €200 million ($215 million) to use the proceeds to reduce its debt.

  • July 01, 2024

    PE Co. Altor Buys Majority Stake In Tech Biz F24 For £18.4M

    U.K. investment company HgCapital Trust PLC said Monday that Altor, a private equity firm, has bought most of its stake in F24, in a deal that values the cloud computing company at £18.4 million ($23.3 million).

  • July 01, 2024

    Energy Explorer Quits Trading In London Amid Refinancing

    San Leon Energy PLC said Monday it has now ceased trading on the junior stock exchange in London because it has continually failed to publish its accounts, amid moves by the oil and gas company to seek refinancing to settle debts.

  • July 01, 2024

    Payment Services Business Begins £20M Share Buyback

    PayPoint PLC on Monday commenced its up to £20 million ($25 million) share repurchase program, part of the payment services company's three-year scheme aimed at returning capital to investors.

  • July 01, 2024

    Skadden-Led BlackRock To Buy Data Group Preqin For £2.6B

    Investment firm BlackRock said Monday that it has agreed to acquire private markets data provider Preqin for £2.55 billion ($3.2 billion) to boost its investment management in a deal guided by Skadden Arps Slate Meagher & Flom LLP and Macfarlanes LLP.

  • July 01, 2024

    Osborne Clarke Guides Aviva's School Pension Deal

    Insurance giant Aviva has completed a full scheme buy-in for a pension plan sponsored by Taunton School, consultancy Broadstone said Monday, in a deal guided by Osborne Clarke LLP.

  • July 01, 2024

    Sullivan & Cromwell Pilots Boeing $4.7B Spirit Aero Takeover

    Boeing said Monday it has agreed to acquire aircraft parts maker Spirit AeroSystems in a $4.7 billion all-share deal under which rival Airbus will also take control of the European-linked operations of Spirit in return for $559 million in compensation.

  • June 28, 2024

    EU Wraps Antitrust Probe Of Microsoft's OpenAI Stake

    The European antitrust authorities have ended their probe into tech giant Microsoft's control of authority in artificial intelligence-powered chatbot ChatGPT's owner OpenAI, but are switching the angle of the investigation in the partnership that could lead to a formal competition probe.

  • June 28, 2024

    Taxation With Representation: Kirkland, Vinson, Skadden

    In this week's Taxation with Representation, Aareal Bank AG and Advent International sell a property management and maintenance software company, Webtoon Entertainment Inc. and Tamboran Resources Corp. price initial public offerings, SM Energy Company acquires oil and gas assets, and Nokia sells Alcatel Submarine Networks to the French state.

  • June 28, 2024

    Skadden Guides Nokia On $2.3B Infinera Buy, Stock Pops

    Skadden is representing Nokia on a deal to buy Silicon Valley optical-transmission equipment maker Infinera at a $2.3 billion enterprise value, as the Finnish telecommunications giant looks to upsize its North American optical markets business. 

  • June 28, 2024

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

    This past week in London has seen Uber hit with claims from Addison Lee and the former CEO of the Kabbee app, animal by-product company Leo Group file a defamation claim against a local anti-odor campaigner, and a self-styled lord who claims to be the illegitimate son of the late Prince Phillip resume legal action against his cousins for a share in his late aunt's estate. Here, Law360 looks at these and other new claims in the U.K.

  • June 28, 2024

    Addleshaw Goddard Guides Acquisitions Biz In £41.5M Deal

    Marwyn Acquisition Company II Ltd. on Friday said it's subsidiary MAC II UK Ltd. has agreed to buy pensions services provider InvestAcc Group Ltd., for £41.5 million ($53 million), which would be mainly financed by a fundraising program, advised by Addleshaw Goddard LLP. 

  • June 28, 2024

    Bar Operator, Green Investment Biz To Delist From LSE

    A premium bars owner and an investment company that focuses on green investments said Friday in separate statements that they are canceling their listings on the London Stock Exchange after concluding that the listings were not in their best interests anymore.

  • June 28, 2024

    US Door Maker Sweetens £788M Bid For UK Rival To £818M

    Window and door parts maker Quanex said Friday that it has revised its approximately £788 million ($971 million) bid for rival Tyman PLC to nearly £818 million by topping it up with a special dividend of 15 pence per share.

  • June 28, 2024

    Freshfields-Led PE Firm To Buy Property Ad Co. In €2.9B Deal

    Global private equity firm Cinven Ltd. said Friday that it has agreed to buy Idealista, in a deal valuing the Spanish real estate advertising platform at €2.9 billion ($3.1 billion).

  • June 28, 2024

    Onepoint Seeks To Exit Atos After Failed Restructure Talks

    Onepoint is looking to exit its 11.4% holding in French IT consultancy Atos after the anchor investor pulled out of plans to help restructure the company's €4.8 billion ($5.1 billion) debt burden.

  • June 28, 2024

    Keywords 'Minded To Recommend' PE Biz's Lower £1.96B Bid

    The board of Keywords Studios PLC said Friday it is willing to back a reduced £1.96 billion ($2.5 billion) proposed offer from EQT AB after the Swedish private equity firm reviewed the books of the Irish video game services company.

  • June 27, 2024

    Deals Rumor Mill: Boeing, Blackstone, Bosch

    Boeing offers $4 billion for parts maker Spirit AeroSystems, Blackstone could sell Legence at up to $5 billion value, and Bosch mulls a bid for Whirlpool. Here, Law360 breaks down the notable deal rumors from the past week.

  • June 27, 2024

    DWF Buys Australian Claims Management Business

    Private equity-backed DWF LLP said Thursday it has agreed to buy Australian claims management company Proclaim for an undisclosed amount to bolster its presence in the country.

  • June 27, 2024

    Xeinadin Sues Ex-Director, Wife Over Breach Of Duties

    Xeinadin has sued the former director of an accountancy firm it acquired and his wife for more than £1 million ($1.2 million) it claims it is owed from the deal to buy their stake in the firm after it sacked him amid allegations of fraud.

  • June 27, 2024

    Nokia To Sell Submarine Network To France In $375M Deal

    Skadden-led Nokia said Thursday it has agreed to sell submarine network business Alcatel Submarine Networks, or ASN, to the French state at an enterprise value of €350 million ($375 million).

  • June 27, 2024

    Data Firm Wilmington Sells UK Health Biz For Up To £26M

    Wilmington PLC said Thursday it has sold its healthcare business in the U.K. to Inspirit Franklin Holdings Ltd. for up to approximately £26 million ($33 million), as the data company hones its focus on the risk and compliance market.

  • June 27, 2024

    REIT Segro Buys 3 Dutch Logistics Warehouses For €222M

    Segro PLC said Thursday it has bought three warehouses in the Netherlands from a trio of companies for a total of €222 million ($237.5 million) in cash, as the property investor eyes growth in the gateway to continental Europe.

  • June 27, 2024

    R&Q Insurance Appoints Liquidators To Push $465M Sale

    R&Q Insurance said Thursday that the Supreme Court of Bermuda has given it a green light to appoint three joint provisional liquidators to oversee the complete winding up of the troubled insurer.

  • June 27, 2024

    Halma To Snap Up Portuguese Fire Equipment Biz For €42.5M

    Halma PLC said Thursday that it has acquired Portuguese fire detection and alarm systems company Global Fire Equipment SA for €42.5 million ($45.4 million) as the safety giant carries on its aggressive acquisition momentum well into 2024.

Expert Analysis

  • PR Perspectives: Getting Merger Communications Right

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    As the recent Allen & Overy and Shearman Sterling deal announcement demonstrates, controlling the narrative is the priority when merger discussions begin, so law firms need to consider their stakeholder base and the best communication channels for each segment, ready to adapt to the audience group's needs, say Ben Girdlestone and Bethany Durkin at Byfield.

  • Trustees Should Take Caution After UK Pension Tap Plan

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    The U.K. government's recent plan to boost technology startups by tapping into pension sector funds may risk the hard-earned savings of members, so trustees need to be mindful of the proposals in light of their fiduciary duties, say Beth Brown and Riccardo Bruno at Arc Pensions.

  • Report On UK Investment Act Offers Welcome Insights

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    The U.K. government's recent report on the National Security and Investment Act's first full year of operation is to be applauded for disclosing more information on the act's notification system than was required, enabling a better understanding of what has taken place and what the next year may hold, say Andrea Hamilton and Ajal Notowicz at Milbank.

  • Preparing For M&A Under The Foreign Subsidies Regulation

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    The EU Foreign Subsidies Regulation introduces requirements that companies operating in the region must consider in M&A transactions, and any foreign financial contributions received by a target should be checked during the due diligence stage, with specific provisions for commission approval if a notification requirement is triggered, say Hendrik Viaene and Stéphane Dionnet at McDermott.

  • Important Generative AI Considerations In M&A

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    The recent surge of interest in generative artificial intelligence and its use of machine learning algorithms means there are novel concerns as well as inherent risks for those engaging in M&A activity, and acquirers should pay careful attention to a target’s scope of ownership and licensing rights, say attorneys at Davis Polk.

  • Pension Trustee Case Could Lead To Fossil Fuels Divestment

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    While the recent Court of Appeal case McGaughey v. Universities Superannuation Scheme attempts to link fossil fuel investment by trustees to significant risk of financial detriment, it is concerning that two out of 470,000 scheme members could be permitted to bring a claim without ensuring that other members are represented, says Anna Metadjer at Kingsley Napley.

  • Green Loans May Be Hungary's Path To Sustainable Financing

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    Fueled by a rising trend in the use of green loans, Hungary is making impressive progress in its journey toward achieving a net-zero future, although the development of social and sustainability-linked loans is still a work in progress, say Gergely Szalóki and Bálint Bodó at Schönherr.

  • Tackling Global Inflation Is A Challenge For Antitrust Agencies

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    Recent events have put pressure on antitrust agencies to address the global cost-of-living crisis, but the relationship between competition and inflation is complex, and with competition agencies’ reluctance to act as price regulators, enforcement is unlikely to have a meaningful impact, say lawyers at Linklaters.

  • What New FCA Management Will Mean For Enforcement

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    Therese Chambers’ first speech since becoming the U.K. Financial Conduct Authority’s joint executive director provided insightful observations about the expected behaviors of firms and their legal advisers during investigations, indicating the advent of a proactive, prosecution-minded enforcement agency trying to do the right thing, says Richard Burger at WilmerHale.

  • Global M&A Outlook: Slow But Moving Along

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    Global merger and acquisition markets had a tough start to the year, with inflation, rising interest rates and the Ukraine conflict knocking sentiment, but in the macroeconomic, deal makers have continued to unearth pockets of activity to keep deal volumes ticking over, say lawyers at White & Case.

  • 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.

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