Transactions UK

  • April 19, 2024

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

    This past week in London has seen U.K. holiday resort chain Butlins target Aviva and a huddle of insurers, Meta and WhatsApp tackle a patents claim by telecommunications company Semitel, an ongoing construction dispute between Essex County Council and Balfour Beatty, and Formycon AG hit a pharmaceutical company for infringing medical products. Here, Law360 looks at these and other new claims in the U.K.

  • April 19, 2024

    Bank Of Cyprus Rolls Out €25M Share Buyback

    Bank of Cyprus Holdings PLC on Friday launched a share buyback program worth up to €25 million ($26.6 million) aimed at lowering its outstanding share capital.

  • April 19, 2024

    UK Real Estate Investor Sells 65 Properties For £16M

    Home REIT PLC said Friday it has sold a further 65 properties from its portfolio for £15.9 million ($19.8 million) as the troubled U.K. social housing real estate company looks to cut its debt.

  • April 19, 2024

    Shareholders Sell 7% Of Stock Of Fonix Mobile For £15M

    Mobile payments company Fonix Mobile said Friday that a group of its shareholders have successfully sold more than 6.6 million of its shares and raised proceeds of approximately £15 million ($19 million) to "satisfy strong institutional demand."

  • April 19, 2024

    Schneider Electric In Early Talks With US Software Biz

    French energy management giant Schneider Electric SE confirmed on Friday that it is in preliminary talks with U.S. infrastructure software group Bentley Systems Inc. over "a potential strategic transaction."

  • April 18, 2024

    Ex-Autonomy CEO Wanted Whistleblower Fired, Ex-GC Says

    Former Autonomy CEO Michael Lynch thought a finance department whistleblower was "trying to destroy the company" and wanted him fired, the software company's former U.S. general counsel testified Thursday in a criminal fraud trial over claims Lynch conned HP into buying the British company at an inflated price of $11.7 billion.

  • April 18, 2024

    EU Antitrust Chief Says Merger Tool Not A 'Power Grab'

    The European Commission's top competition enforcer said Thursday the agency has taken a measured approach to using its newly asserted power to review mergers that fall short of local thresholds, as the European trading bloc's high court mulls a challenge of that authority from DNA sequencing company Illumina.

  • April 18, 2024

    Coventry Building Society Makes £780M Offer For Co-Op Bank

    The Coventry Building Society is offering to buy the Co-operative Bank for £780 million ($970 million) in a move that comes after the two revealed in December that they were in exclusive talks to merge.

  • April 18, 2024

    Insurers Face Appeal Over Refusal To Cover Bribery Loss

    A holding company took its fight for an insurance payout to the Court of Appeal on Thursday, urging justices to force its insurers to cover its claim for losses it sustained when its acquisition of a construction contractor went south due to bribery and corruption allegations.

  • April 18, 2024

    Royal Mail Says It Rejected £3.2B Bid By Czech Mogul's Group

    The parent company of Britain's national postal carrier Royal Mail has confirmed that it rejected an approximately £3.2 billion ($4 billion) "opportunistic" bid from a European conglomerate controlled by Czech billionaire Daniel Kretinsky.

  • April 18, 2024

    London SPAC's £33M Buy Of Canadian Hydrogen Biz Lingers

    Blank-check company Pineapple Power said Thursday that it has not yet reached a "binding agreement" for the anticipated £33 million ($41 million) acquisition of Canadian hydrogen energy business Ilios Hydrogen Canada Ltd. that was announced in November.

  • April 18, 2024

    City Pushes For UK Regulators To Be Globally Competitive

    A body representing U.K. financial services called Thursday for a new post-Brexit international framework to compare regulators' performance and their impact on competitiveness.

  • April 18, 2024

    Insurance Broker Jensten Builds £170M Acquisition War Chest

    Private equity-backed insurance broker Jensten Group said Thursday it has secured £170 million ($211 million) in funding for a series of planned acquisitions.

  • April 18, 2024

    Kirkland, Weil-Guided Apax To Buy HR Payroll Co. For €36M

    Investment group Apax Global Alpha Ltd. said Thursday that a fund it advises has agreed to buy Zellis UK Ltd., a prominent provider of payroll and HR software in the U.K. for approximately €36 million ($38.4 million), financed via one of its funds.

  • April 18, 2024

    Housebuilder Vistry To Return £100M To Shareholders

    Vistry Group PLC on Thursday announced the take-off of an up to £100 million ($125 million) share repurchase program, progressing with its plan to return £1 billion to investors across three years.

  • April 18, 2024

    Hipgnosis Agrees To $1.4B Takeover By US Rival Concord

    Concord Chorus has agreed to buy its British music royalties rival Hipgnosis Songs Fund in an all-cash transaction worth $1.4 billion, as the U.S. company looks to add 1.2 million more songs to its portfolio, the companies said in joint statement Thursday.

  • April 17, 2024

    Ex-JPMorgan Analyst Liked 'Winding Up' Autonomy CEO, Jury Told

    A former JPMorgan stock analyst testifying Wednesday in the criminal fraud trial of former Autonomy CEO Michael Lynch said that he "took pleasure in winding up Lynch" and once even used a Hitler analogy to describe his performance, but said his critical coverage was never personal.

  • April 17, 2024

    Royal Mail Rejects Takeover Approach From Czech Billionaire

    A European conglomerate owned by Czech billionaire Daniel Kretinsky said Wednesday that the parent company of Royal Mail has rejected its offer to take over Britain's national postal service.

  • April 17, 2024

    Agronomics Meat Unit Taps Investors For €40M Capital Raise

    Lab-grown meat company Agronomics said on Wednesday that its portfolio company Mosa Meat BV, a producer of alternatives to conventional beef, has raised €40 million ($42.5 million) in new capital to invest in the business.

  • April 17, 2024

    Standards Setter Proposes Steps To Boost Non-Bank Liquidity

    A global standards setter proposed on Wednesday new measures to enable non-bank financial firms such as hedge funds or insurers to better support their derivatives or securities positions in stressed markets.

  • April 17, 2024

    Public Property Invest To Float In Oslo In $162M IPO

    Norwegian commercial property company Public Property Invest said Wednesday that it has launched an initial public offering in Oslo to raise up to approximately 1.8 billion Norwegian krone ($162 million) with advice from Norwegian law firms Thommessen AS and Wikborg Rein.

  • April 17, 2024

    Steel Specialist Severfield To Launch £10M Share Buyback

    Severfield PLC said on Wednesday it intends to launch a share repurchase program worth up to £10 million ($12.5 million) aimed at rewarding investors and lowering its outstanding share capital.

  • April 17, 2024

    Vinci To Buy Controlling Stake In Edinburgh Airport For £1.3B

    Vinci SA said Wednesday that one of its subsidiaries has agreed to buy a 50.01% stake in Edinburgh Airport for £1.27 billion ($1.58 billion), as the French infrastructure giant eyes growth at the Scottish flight hub.

  • April 16, 2024

    Autonomy CEO Pressured JPMorgan Over Analyst, Jury Told

    An ex-JPMorgan stock analyst testifying Tuesday in the criminal fraud trial of former Autonomy CEO Michael Lynch told jurors that the software company founder responded with hostility when his research reports questioned its growth, and that Lynch offered JPMorgan millions in business if he were taken off the Autonomy beat.

  • April 16, 2024

    Amundi, Victory Capital Ink Strategic Partnership Agreement

    France's Amundi will merge its Amundi US unit with Texas-based Victory Capital in exchange for a 26.1% stake in the latter firm, in a deal that would bolster Amundi's U.S. presence while expanding Victory's worldwide distribution channels, the asset managers said Tuesday.

Expert Analysis

  • Opinion

    Law School Admissions Shouldn't Hinge On Test Scores

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    The American Bar Association recently granted law schools some latitude on which tests it can consider in admissions decisions, but its continued emphasis on test scores harms student diversity and is an obstacle to holistic admissions strategies, says Aaron Taylor at AccessLex.

  • How Market Challenges Are Affecting Deal-Making Trends

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    As private equity investors adjust to a new period of volatility and uncertainty in the marketplace, various trends in deal making are emerging in order to bridge valuation gaps and address financing concerns, say Alvaro Membrillera and Anna Pollak at Paul Weiss.

  • What Digital Asset Decisions Mean For Future Disputes

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    Following a number of recent landmark decisions in the English courts, the law continues to develop in the sphere of digital assets, and several themes are emerging that will benefit both individuals and organizations, say Chris Recker at Duane Morris and Celso De Azevedo at The 36 Group.

  • A Look At UK's 1st Report On Security Regime For Deals

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    The U.K. government’s recent report on the National Security and Investment Act, covering its first three months since it came into force in January, suggests that the regime may not be leading to a surge in benign notifications and that the government is responding quickly, which is good news for businesses, say attorneys at Cooley.

  • What EU Changes To Dual Distribution Mean For Franchises

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    Following the European Commission’s adoption of the Vertical Block Exemption Regulation and accompanying vertical guidelines regarding dual distribution, which took effect this month, franchisors should examine their flow of information to and from franchisees to determine whether it must be restricted, say attorneys at Baker McKenzie.

  • How ESG Matters Are Influencing M&A Due Diligence Trends

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    With a proliferation of environmental, social and governance-related regulatory developments and a desire to comply with best practice, ESG matters have become an increasingly important area of focus for both clients and advisers in M&A transactions, say attorneys at Sullivan & Cromwell.

  • Changes To UK Competition Rules Will Extend CMA Powers

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    Recent amendments to U.K. competition and consumer law regimes introduce changes to merger control and antitrust investigations that will result in the speedier resolution of cases and greater autonomy for the Competition and Markets Authority, say Bill Batchelor and Aurora Luoma at Skadden.

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