The government said Wednesday that Russian billionaire Roman Abramovich must transfer more than £2.5 billion ($3.3 billion) from the 2022 sale of Chelsea Football Club to fund humanitarian efforts in Ukraine, or it will pursue legal action.
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UK Demands Abramovich Give £2.5B To Ukraine Or Risk Court

By Tom Fish

The government said Wednesday that Russian billionaire Roman Abramovich must transfer more than £2.5 billion ($3.3 billion) from the 2022 sale of Chelsea Football Club to fund humanitarian efforts in Ukraine, or it will pursue legal action.

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Kongsberg Lands €100M Defense Contract With Denmark

By Dawood Fakhir

Norwegian defense company Kongsberg Gruppen ASA said Wednesday that it has reached a more than €100 million ($117.4 million) deal with the Danish government for the supply of a modern coastal artillery system.

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Diageo To Exit Kenya In $2.3B Deal With Asahi

By Dawood Fakhir

Guinness owner Diageo said Wednesday that it has agreed to sell its Kenyan subsidiary to Japanese rival Asahi in a $2.3 billion deal, marking its exit from the East African country.

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Edinburgh Trust Urges Shareholders To Nix Board Takeover Bid

By Dawood Fakhir

British investment company Edinburgh Worldwide on Wednesday urged its shareholders to vote against proposals made by its biggest shareholder Saba Capital to revamp its board, in what it called an attempt to "take control on the cheap."

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M&A

Warner Bros. Board Rejects 'Inferior' Paramount Bid

By Al Barbarino

Warner Bros. Discovery Inc. said Wednesday that its board has determined Paramount Skydance Corp.'s $108.4 billion hostile offer is not a "superior proposal" to the company's pending $82.7 billion agreement with Netflix. 

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Finance Co. Gets Extra Time To Make £523M UK Credit Biz Bid

By Tom Fish

Britain's merger regulator has extended the deadline of U.S. finance group BasePoint Capital LLC to table a £523 million ($697 million) bid for International Personal Finance PLC, the U.K. credit provider said Wednesday.

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CAPITAL MARKETS

Womble Bond Steers £107M Pension Deal For Co-Op

By Dawood Fakhir

British insurance company Rothesay Life has completed a £107 million ($143 million) pension deal for Lincolnshire Co-operative Ltd., guided by Womble Bond Dickinson.

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MERGER REVIEW

Greencore's £1.2B Bakkavor Deal To Complete After CMA OK

By Najiyya Budaly

Irish food manufacturer Greencore said Wednesday that it expects its £1.2 billion ($1.6 billion) acquisition of rival Bakkavor to complete in January after the U.K.'s competition authority abandoned its probe amid antitrust fixes proposed by the sides.

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LAW FIRMS IN TODAY'S NEWS

A&L Goodbody

A&O Shearman

Arthur Cox

Cravath Swaine

Debevoise & Plimpton

Dentons

Freshfields

Latham & Watkins

Skadden Arps

Slaughter and May

Stephenson Harwood

Wachtell Lipton

White & Case

Withersworldwide

Womble Bond

COMPANIES IN TODAY'S NEWS

Asahi Group Holdings

Baillie Gifford & Co.

BasePoint Capital LLC

Deutsche Bank AG

Diageo PLC

Greencore Group PLC

Home Box Office Inc.

Lloyds Banking Group PLC

London Stock Exchange Group PLC

Netflix Inc.

Oracle Corp.

PAI Partners AB

Saba Capital Management LP

Skydance Media LLC

Tesco Corp.

Warner Bros. Discovery Inc.

Warner Bros. Entertainment Inc.

GOVERNMENT AGENCIES IN TODAY'S NEWS

Competition and Markets Authority

European Union

NATO

United Nations