Transactions UK

  • May 16, 2024

    Top Linklaters Attys See PE Rebound In Run-Up To Elections

    After a subtle uptick in private equity deal values in the first quarter, the global chair of Linklaters LLP's corporate department in New York, George Casey, and one of its top PE dealmakers in London, Alex Woodward, believe the pace of transactions is picking up and the market is primed for a comeback.

  • May 16, 2024

    Slovenian Bank NLB Bids €400M For Austrian Lender Addiko

    A Slovenian bank has tabled a €400 million ($435 million) bid to buy Austria's Addiko, a business lender operating in central and southeastern Europe, as it seeks to expand into new territories.

  • May 16, 2024

    Scirocco Energy To Cancel Public Listing On AIM

    Scirocco Energy PLC said on Thursday it has received shareholder approvals to leave its public listing on London's junior Alternative Investment Market before trading starts on Friday, as the U.K. energy investor eyes the greater flexibility of private ownership.

  • May 16, 2024

    CMA Deepens Probe Of Planned DJ Equipment Merger

    The U.K.'s antitrust regulator said Thursday that it will launch a deeper, second phase of investigation into DJ equipment maker AlphaTheta's proposed acquisition of audio technology company Serato after the companies did not address its competition concerns.

  • May 16, 2024

    Siemens Selling Innomotics Unit To PE Firm KPS In $3.8B Deal

    German tech conglomerate Siemens AG said Thursday it has agreed to sell its Innomotics large motors and drives unit to New York City-based private equity firm KPS Capital Partners at an enterprise value of €3.5 billion, or roughly $3.8 billion. 

  • May 16, 2024

    White & Case Helps Italy Unload 2.8% Eni Stake For €1.4B

    Italy's government said on Thursday that it has sold approximately 2.8% of its stake in energy company Eni SpA in a move to raise €1.4 billion ($1.5 billion) to aid the country's finances.

  • May 15, 2024

    Royal Mail 'Minded' To OK New £3.5B Bid From Czech Mogul

    The owner of national postal carrier Royal Mail said on Wednesday that it is prepared to accept an increased buyout bid worth £3.5 billion ($4.4 billion) by a conglomerate controlled by Czech billionaire Daniel Křetínský, in a deal led by Kirkland & Ellis LLP.

  • May 15, 2024

    Mission Shareholder Advised Against Brave Bison Offer

    Investment manager DBAY on Wednesday said it has advised a client that holds shares in The Mission Group to not accept the £26.8 million ($33.6 million) potential offer for the advertising group made by its rival Brave Bison.

  • May 15, 2024

    Baker McKenzie Guides £28M Pension Deal For Pharma Co.

    Canada Life has insured the retirement savings plans of more than 300 members of the U.K. subsidiary of Dutch pharmaceutical company Norgine Ltd. in a full buy-in transaction of £28 million ($35 million), with the deal guided by Baker McKenzie.

  • May 15, 2024

    Vodafone Begins €500M Share Buyback Following Biz Sale

    Vodafone Group PLC unveiled the take-off of a share repurchase program worth up to €500 million ($631 million) on Wednesday, the first part of a wider year-long €2 billion buyback funded by the proceeds of selling its business in Spain.

  • May 15, 2024

    Investor Group Sells £1.6B In Shares Of LSE Owner

    London Stock Exchange Group PLC said on Wednesday that a consortium of investors has sold shares in the famous marketplace worth almost £1.6 billion ($2 billion), a deal that ends media conglomerate Thomson Reuters' inherited stake in the business.

  • May 15, 2024

    Linklaters Helps Computer Biz Raspberry Pi's Planned UK IPO

    Raspberry Pi, which makes card-sized computers, said on Wednesday that it is planning to float on the London Stock Exchange, providing a rare boost for a U.K. capital market which has struggled to attract new listings.

  • May 14, 2024

    Autonomy Overstated Revenue Before HP Sale, Jury Hears

    Autonomy's reported revenue was overstated by a combined $300 million in the two-and-a-half years before HP acquired it, an accounting expert testified Tuesday in a California criminal trial over claims that Autonomy founder Michael Lynch duped HP into buying his software company for an inflated $11.7 billion price.

  • May 14, 2024

    Vodafone Gets Green Light For €5B Sale Of Spanish Biz

    Vodafone Group PLC said Tuesday in a statement that it has received final approval from Spanish authorities for its planned sale of Vodafone Spain — or Vodafone Holdings Europe SLU — to Zegona Communications PLC for €5 billion ($5.3 billion). 

  • May 14, 2024

    Kilmer Sports Looks To Buy French Soccer Club Saint-Étienne

    Canada-based sports investment firm Kilmer Sports Ventures has entered into exclusive negotiations with shareholders to discuss purchasing AS Saint-Étienne, a "decorated and beloved" soccer club in France, according to a joint Monday statement.

  • May 14, 2024

    Brodies, Pinsent Advise On £100M Loan For Green Port Project

    Haventus, a green projects site manager, has secured a £100 million ($126 million) joint credit facility from UK Infrastructure Bank and the Scottish National Investment Bank for the redevelopment of its Ardersier Port near Inverness, Scotland, law firm Brodies LLP said Tuesday.

  • May 14, 2024

    PE Trust Eyes German Fiber-Optic Growth With £19M Stake

    Oakley Capital Investments said on Tuesday that an associated fund will buy a majority stake in German broadband platform and planner Vitroconnect for up to £19 million ($23.8 million), as the U.K. company seeks to cash in on Germany's move to fiber-optic internet. 

  • May 14, 2024

    Freshfields Guides Uber In Food Delivery Biz Buy For $950M

    Uber said Tuesday that it has agreed to acquire food delivery business Foodpanda in Taiwan from Delivery Hero, a German operator, for $950 million to complement its Uber Eats food delivery unit in one of the biggest international deals in the Asian country.

  • May 14, 2024

    Logistics Investor Tritax Sells Swedish Assets For $35M

    Tritax EuroBox PLC said on Tuesday it will sell a warehouse in Gothenburg for 385 million Swedish kronor ($35.5 million) to repay debt and free up cash for reinvestment.

  • May 14, 2024

    UK Considers Fixes To Utility's £89M Water Biz Deal

    Britain's antitrust authority said on Tuesday that it could accept solutions set out by the Pennon Group to alleviate competition concerns about the utility company's proposed purchase of a rival operator for approximately £89 million ($112 million).

  • May 14, 2024

    Anglo American To Offload Vital Assets As BHP Lays Siege

    Anglo American PLC said Tuesday that it plans to sell or spin off its diamond, platinum and coal assets in a corporate restructuring aimed at boosting value for shareholders, as the British mining giant fends off a £34 billion ($43 billion) takeover bid from Australian rival BHP Group Ltd.

  • May 13, 2024

    Irked Autonomy Judge Vents On HP Fraud Trial's Slow Pace

    U.S. District Judge Charles Breyer on Monday blasted lawyers for the government and two former Autonomy Corp. PLC executives in a criminal fraud case over the trial's slow progress, saying he's "annoyed," but also "complicit" because he "did not take more of a controlling posture."

  • May 13, 2024

    Online Slot Machine Co. Games Global Scraps $254M US IPO

    Games Global, a developer of online betting and casino games, pulled its plans for an initial public offering Monday, citing market conditions, just one day before the U.K.-based company expected to raise about $254 million in a U.S. listing.

  • May 13, 2024

    JP Morgan Battles Viva Wallet Founder Over Buyout Value

    J.P. Morgan International Finance Ltd. urged a London judge Monday to reject a payment company's "nonsensical" case over the investment bank's option to buy out its partner's stake in a joint venture fintech business.

  • May 13, 2024

    Anglo American Rebuffs Improved £34B BHP Takeover Offer

    British miner Anglo American PLC said Monday that it has rejected a revised £34 billion ($42.7 billion) takeover bid by Australian heavyweight rival BHP Group Ltd., saying that the increased offer "significantly undervalues" the company.

Expert Analysis

  • How The UK Investment Screening Regime Is Taking Shape

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    A recent order imposing remedies on an acquisition by EDF Energy highlights emerging trends in the U.K. government's national security reviews of transactions under the U.K. National Security and Investment Act, and shows how the U.K. remedy landscape compares to the U.S. regime, say lawyers at Arnold & Porter.

  • EU Antitrust Rules Set To Pose Challenges To US Businesses

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    With stark differences between U.S. and European Union antitrust regimes, and potential for the forthcoming EU guidelines to turbocharge the commission's appetite for intervention, it is important that U.S. businesses with activities in the region take note of the reforms, say Andrea Pomana and Sarah Wilks at Mayer Brown.

  • German Competition Law May Herald New Enforcement Trend

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    The recent amendment to the German Act against Restraints of Competition is expected to significantly expand the powers of the German Federal Cartel Office, and could signal a global trend toward greater direct intervention by national competition authorities and political interference in competition law, say lawyers at Simmons & Simmons.

  • How The OECD Global Tax Proposal Could Affect M&A

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    Following agreement on the Organization for Economic Cooperation and Development’s Pillar Two proposal to introduce a global minimum tax, domestic implementation is expected to have a significant impact on international M&A transactions, with financial modeling, deal structuring, risk allocation and joint venture arrangements likely to be affected, say lawyers at Freshfields.

  • A Look At German And French Merger Control Trends In 2023

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    Merger control statistics from the first half of 2023 in Germany and France — key merger control jurisdictions with strict enforcement and sophisticated analysis tools — highlight trends on the length and number of investigations by the respective authorities, say Laurence Bary and Clemens Graf York von Wartenburg at Dechert.

  • UK Shares-Tax Proposals Offer Long-Awaited Modernization

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    The U.K. government's recent consultation on the introduction of a new tax on transactions in securities raises detailed legal and practical issues, but the prospect of a single digital stamp tax offering both streamlined legislation and administration will be welcomed, say Zoë Arnautov and Mark Sheiham at Simmons & Simmons.

  • EU Illumina-Grail Fine Cools Cos.' Merger Control Approach

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    The European Commission's recent record-breaking fine on Illumina for acquiring Grail without approval underscores its tough stance on merger control enforcement, showing that companies in Europe need to be vigilant in complying with regulatory requirements, say Salomé Cisnal de Ugarte and Raphaël Fleischer at King & Spalding.

  • EU Case Shows Wide Approach To Blocking Telecom Mergers

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    The EU court's recent judgment in Commission v. CK Telecoms may make it more challenging to secure clearance for telecom and other companies pursuing mergers, illustrating its broad approach to mergers that risk harming competition without creating a dominant position, say Dominic Long and Christopher Best at Allen & Overy.

  • 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.

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