Transactions UK

  • 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.

  • June 27, 2024

    A&O Shearman Steers Ireland's €593M AIB Stake Sale

    The Irish government said Thursday it has sold a further 5% stake in AIB for €592.9 million ($633.8 million), as it continues to shrink its ownership after nationalizing the lender during the global financial crisis.

  • June 27, 2024

    Sackers Steers Bentley Trustee In £880M Pensions Deal

    Luxury carmaker Bentley Motors Ltd. has passed £880 million ($1.1 billion) of the liabilities of its staff pension plan to Standard Life, the insurer said Thursday, in a deal steered by Sacker & Partners LLP, Travers Smith LLP and Eversheds Sutherland.

  • June 27, 2024

    Freshfields Helps Saint-Gobain Seal $1B Deal For Dubai Biz

    Saint-Gobain said Thursday that it will buy Dubai-headquartered Fosroc for $1.025 billion in cash as it looks to boost its worldwide presence in the construction chemicals market.

  • June 26, 2024

    FCA Asked To Block Shein IPO Over Forced Labor Concerns

    A Uyghur rights group said Wednesday that it has teamed up with Leigh Day to block Shein from floating on the London Stock Exchange over concerns it uses forced labor.

  • June 26, 2024

    Learning Technologies Sells US Biz VectorVMS For $50M

    Learning Technologies Group PLC said Wednesday it has agreed to sell its U.S.-based vendor managing platform to Pixid Group for $50 million, as it looks to refocus its business portfolio.

  • June 26, 2024

    Britain's Phoenix Group Plans Sale Of SunLife

    Life insurance heavyweight Phoenix Group said Wednesday that it is planning to sell its SunLife Ltd. subsidiary that provides financial services to over 50s in the U.K.

  • June 26, 2024

    Haleon To Sell Nicotine Replacement Biz For Up To £500M

    Haleon PLC said Wednesday that it will sell its nicotine replacement business outside the U.S. to Indian pharmaceutical group Dr. Reddy's Laboratories for up to £500 million ($632 million) to streamline its business.

  • June 26, 2024

    Canadian Mining Biz Ups Stake In Chile Copper Co. For $350M

    Canadian mining company Lundin Mining Corp. said Wednesday that it has increased its stake in a copper mining company to 70% by buying an additional 19% of its shares from JX Advanced Metals Corp. for $350 million to boost its copper production globally.

  • June 26, 2024

    Eversheds Steers £33M Pension Deal For Metal Recycling Co.

    A global scrap metal company has offloaded £33 million ($42 million) of its U.K. staff pension liabilities to insurer Aviva PLC, advisers said Wednesday, in a deal steered by Eversheds Sutherland.

  • June 26, 2024

    DLA Piper Launches Investment Management & Funds Practice

    DLA Piper formally launched its global investment management and funds practice Wednesday to meet increasing client demand and align with market trends, supporting asset managers, fund sponsors and investors.

  • June 26, 2024

    Zurich To Acquire AIG's Travel Insurance Biz For $600M

    Zurich Insurance Group said Wednesday that it will buy the personal travel insurance business from U.S. financial group AIG for $600 million to help the Swiss insurer to become a leading provider of holiday cover in the U.S.

  • June 26, 2024

    Investor Onepoint Walks Away From Atos Restructuring Talks

    French IT consultancy Atos said Wednesday that investor Onepoint has pulled out of a proposal to restructure its €4.8 billion ($4.05 billion) debt pile, making room for Czech billionaire Daniel Křetínský to rejoin discussions.

  • June 25, 2024

    Int'l Paper Gets US Clearance On $7.2B DS Smith Buy

    International Paper Co. and its U.K. competitor DS Smith PLC said Tuesday that the waiting period for U.S. antitrust authorities to try and block their planned roughly $7.2 billion merger has expired. 

  • June 25, 2024

    BP's Castrol Invests $50M In Battery-Swapping Biz

    Castrol, a lubrication giant owned by oil major BP, has invested up to $50 million in Gogoro Inc., an electric vehicle battery-swapping business, a move it believes will help diversify its portfolio, according to a joint announcement released Tuesday.

  • June 25, 2024

    Macquarie To Exit €1B Italian Hydroelectric Biz

    Infrastructure asset management giant Macquarie Asset Management said Tuesday that it has agreed to sell its entire 40% stake in Hydro Dolomiti Energia in a deal that values the Italian hydroelectric power company at approximately €1 billion ($1.07 billion).

  • July 02, 2024

    Paul Hastings Hires Finance Pro Reena Gogna From Weil

    Paul Hastings LLP has recruited a finance specialist from Weil Gotshal & Manges LLP in London to boost its offering to lenders in leveraged finance transactions and other complex deals.

  • June 25, 2024

    HSF Steers £195M Sale Of UK Power Plant To Portuguese Firm

    Portuguese renewable energy group Greenvolt said Tuesday that it has agreed to acquire the owner of a biomass renewable heat and power generation plant in southeastern England for £195.3 million ($248 million) to strengthen its position in the country.

Expert Analysis

  • 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.

  • How The New UK Digital Markets Bill Will Affect CMA's Powers

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    The highly anticipated U.K. Digital Markets, Competition and Consumers Bill sets out far-reaching changes in terms of merger control and conduct requirements, but some are skeptical of the Competition and Markets Authority’s enhanced powers and potential for divergence in treatment between firms, say Ben Chivers, Stephen Whitfield ​​​​​​​and Nigel Seay at Travers Smith.

  • M&A Considerations For European Cos. Acquiring US Entities

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    As investment banks forecast a resurgence of mergers and acquisitions later this year, European companies seeking to acquire U.S. businesses should be aware of key procedural differences and federal regulatory requirements that will affect the process, timing and terms of the transaction, say attorneys at Mintz.

  • A Review Of The EU FDI Screening Regulation And Its Scope

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    The EU advocate general’s recent broad interpretation of the EU Foreign Direct Investment Screening Regulation takes account of some of the geopolitical challenges faced by the bloc, and may foreshadow a revision of the regulation and widen the scope of investments screened, say Vassilis Akritidis and Jean-Baptiste Blancardi at Crowell & Moring.

  • Key Takeaways From EU Proposal For Greenwashing Rules

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    If the proposal for a Green Claims Directive, with its enhanced rules on claims about a product or trader's environmental impact, is adopted, it will affect all businesses selling their products in the EU and bring major changes to the way those products are packaged and advertised, say attorneys at Shearman.

  • UK Investment Screening Inches Closer To US Regime

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    The recent agreement between the U.K. Cabinet Office and House of Commons concerning parliamentary scrutiny of the Investment Security Unit represents a step toward greater transparency of intervention in investments that may raise national security concerns, and underscores increasing alignment with the U.S. regime, say attorneys at Hogan Lovells.

  • UK Ruling Offers Useful Guidance To Insolvency Practitioners

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    The recent U.K. High Court ruling in a matter involving Sova Capital represents the first unsecured credit bid to be approved by an English court, demonstrating a pragmatic approach to complex sanctions-related administrations and identifying a novel solution for insolvency practitioners to maximize value for the benefit of creditors, say attorneys at Katten.

  • Opinion

    Thomas Report Is Final Straw — High Court Needs Ethics Code

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    As a recent report on Justice Clarence Thomas' ongoing conflicts of interest makes evident, Supreme Court justices should be subject to an enforceable and binding code of ethics — like all other federal judges — to maintain the credibility of the institution, says Erica Salmon Byrne at Ethisphere.

  • Ofwat's New Guidance For Water Projects: Key Takeaways

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    While increased competition is a laudable aim, the U.K. Water Services Regulation Authority's introduction of direct procurement for customers by default for projects above a size threshold could have ramifications for the financial stability of the companies delivering major water infrastructure, say Jennifer Charles and Marianne Anton at Watson Farley.

  • Court Ruling Strengthens EU Stance On Non-Notifiable M&A

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    The recent European Union Court of Justice's decision in Towercast can be seen as part of a pattern of increasingly rigorous scrutiny of M&A, and provides scope for greater intervention by national competition authorities on acquisitions by dominant companies that do not meet the EU or national merger control thresholds for notification, say attorneys at Herbert Smith.

  • How Changes To 'Acting In Concert' Will Affect UK Takeovers

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    The recent changes made to the rules by the U.K. Takeover Panel on who is presumed to be acting in concert will be of most interest to parties proposing to make a bid for a U.K. listed company, and give welcome clarity as to how the U.K. takeover regime operates, say attorneys at Herbert Smith.

  • Key Points In Draft EU Foreign Subsidies Regulation

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    The draft implementing regulation on EU foreign subsidy control provides eagerly awaited guidance on the submission of mandatory notifications, but there are still many open questions, say Paul van den Berg and Merit Olthoff at Freshfields.

  • ClientEarth Claim May Expand Scope Of Directors' Duties

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    In using litigation to hold Shell’s board of directors to account for failing to properly prepare for the net-zero transition, ClientEarth’s actions represent a shift in climate change activism strategy and an unprecedented application of directors’ duties as a mechanism to drive change, say Marlene Henderson and Danielle De Val at Browne Jacobson.

  • Volatile Energy Prices Complicate Int'l Arbitration Damages

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    In the turbulent global energy market, international arbitration is a crucial tool for resolving cross-border disputes — but determining how, if at all, to account for recent energy price spikes when quantifying damages presents many challenges for tribunals, say attorneys at White & Case.

  • A Breakdown Of The SRA's Proposed New Fining Powers

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    Thanks to the Solicitors Regulation Authority's pending new fining framework, which includes guidance on unsuitable fines and a fixed penalties scheme for low-level breaches, firms can expect to see more disciplinary findings leading to an SRA fine rather than referral to the Solicitors Disciplinary Tribunal, say Graham Reid and Shanice Holder at RPC.

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