Apollo Eyes $2B Takeover Of UK Heat Treatment Co. Bodycote

By Al Barbarino

British industrial services company Bodycote said Friday it has received a conditional cash proposal from private equity giant Apollo and its flagship buyout fund for a possible takeover that would value Bodycote at more than $2 billion.

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Latham, PedersoliGattai Lead Funds In €10.7B Recordati Bid

By Najiyya Budaly

Investment firms CVC and Groupe Bruxelles Lambert said Friday that they are heading up a group of investors that will buy Recordati SpA for €10.7 billion ($12.4 billion) in a move to take the Italian pharmaceuticals company private.

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Saba Ramps Up Boardroom Battles Against Workspace, Impax

By Najiyya Budaly

Investment companies Workspace and Impax Environmental said in separate statements on Friday that they have been told by shareholder Saba Capital Management that it plans to shake up their boards, as the activist investor intensifies its intervention in funds listed in London.

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Estée Lauder, Spanish Beauty Co. Puig End Merger Talks

By Tom Fish

Estée Lauder and Spanish beauty group Puig Brands SA have ended discussions over a potential business combination that would have created a $40 billion global luxury cosmetics company, as the U.S. group reaffirmed confidence in its turnaround strategy.

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Brief

Energy Biz To Sell Philippines Drilling Rig For $4.3M

By Irene Madongo

Zenith Energy Ltd. said Friday that it has agreed to terms for the sale of a drilling rig in a deal worth approximately $4.3 million, which the oil and gas company said tops earlier indicative offers.

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Roundup

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

By Laura Stewart Liberty

The past week in London has seen Napster sued by a music royalties company, White & Case LLP and Laytons LLP targeted in a claim by a property developer, a short-term lender pursue legal action against law firm Rainer Hughes and its former founding partner following his strike-off for money laundering offenses, and the administrators of London Bridging sue the founder of collapsed Market Financial Solutions. Here, Law360 looks at these and other new claims in the U.K.

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How UK Security Act Plans Will Affect Foreign Investors

The U.K. government's recently proposed changes to the scope of National Security and Investment Act transaction screening for foreign investment in sectors including communications, data infrastructure and energy should create a more proportionate, predictable and targeted regime, say lawyers at Skadden.

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