Intertek Group said Wednesday that it is prepared to endorse a takeover offer from EQT AB after the Swedish private equity firm made a "final proposal" that valued the laboratory testing company at approximately £9.4 billion ($12.7 billion).
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Intertek Board Set To Recommend EQT's £9.4B Final Offer

By Tom Fish

Intertek Group said Wednesday that it is prepared to endorse a takeover offer from EQT AB after the Swedish private equity firm made a "final proposal" that valued the laboratory testing company at approximately £9.4 billion ($12.7 billion).

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Activist Investor Converium Targets UK Vet Group CVS

By Najiyya Budaly

Canadian investment firm Converium Capital publicly called on veterinary group CVS Group PLC on Wednesday to fix a 20% fall in share price by buying back shares worth £100 million ($135 million).

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Uzbekistan Fund Raises $604M In London, Tashkent IPOs

By Najiyya Budaly

Uzbekistan's sovereign wealth fund said Wednesday that it has raised $603.6 million through a share sale as part of its initial public offerings in London and Tashkent, giving it a market capitalization of $1.95 billion.

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DEALS

Japanese Biz To Buy Covington-Led Austriacard For €364M

By Dawood Fakhir

Japanese printing technology company Dai Nippon said Wednesday that it has agreed to make an offer of approximately €364 million ($426 million) for Austrian IT security business Austriacard to boost its information security arm and security printing services for the public sector.

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Arc Legal Steers £66M Leeds Building Society Pension Deal

By Tom Fish

Leeds Building Society has completed a £66 million ($90 million) bulk purchase annuity transaction for its staff retirement program, Royal London Group said on Wednesday.

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Brief

Kirkland Advises Fintech On Acquisition Of AI Document Firm

By Irene Madongo

U.S. financial technology company Coupa said it has snapped up artificial intelligence document processing firm Rossum for an undisclosed amount, a move expected to strengthen its business.

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CAPITAL MARKETS

Brief

Defense Co. Babcock to Launch £200M Share Buyback

By Irene Madongo

Babcock International Group PLC said on Wednesday that it will roll out a further £200 million ($270 million) share repurchase program, which is expected to lower the international defense company's capital.

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POLICY & REGULATION

Analysis

UK Gov't Plans Bills For Closer EU Links, Financial Reforms

By Alex Davidson

New legislation laid out in the King's Speech on Wednesday included the government's plans for a bill to strengthen trading ties with the European Union alongside an Enhancing Financial Services Bill in the next 12 months, but lawyers warn that the scope remains limited with potential unexpected consequences.

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Gov't Unit Targets £99B Australian Pension Fund Investment

By Joel Poultney

The British government has launched a project designed to attract around £99 billion ($133.8 billion) of Australian pension fund investment over the next decade as part of its broader bid to direct retirements savings capital toward the U.K.

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PEOPLE

Brief

Addleshaw Goddard Hires 5 Attys To Build Practice In Poland

By Hanna Vioque

Addleshaw Goddard LLP said Wednesday that it is establishing a new public procurement and construction practice in Poland with a five-lawyer team, as it looks to expand its Polish offerings just a year after opening the Eastern European office. 

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LAW FIRMS IN TODAY'S NEWS

Addleshaw Goddard

Anderson Mori

Cleary Gottlieb

Covington & Burling

Kennedys Law LLP

Kirkland & Ellis

Lewis Silkin

Orrick Herrington

Shoosmiths LLP

Slaughter and May

Spencer West LLP

Wolf Theiss

COMPANIES IN TODAY'S NEWS

Babcock International Group

BlackRock Inc.

CVS Group

CVS Health Corp.

Dai Nippon Printing Co. Ltd.

EQT AB

EQT Corp.

Euronext Amsterdam NV

Fort Point Capital

Franklin Resources Inc.

Intertek Group PLC

London Stock Exchange Group PLC

Morgan Stanley

Willis Towers Watson PLC

GOVERNMENT AGENCIES IN TODAY'S NEWS

Competition and Markets Authority

European Union

Financial Conduct Authority

Financial Ombudsman Service

House of Lords of the United Kingdom