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Transactions UK
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March 12, 2024
Finance Biz TP ICAP Starts Second £30M Buyback
Finance services firm TP ICAP Group PLC said on Tuesday it will begin a share buyback worth up to £30 million ($38 million) to boost its investor returns and announced it is exploring listing a stake in its data business.
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March 12, 2024
UK Pension Deals Hit Record-Breaking £50B In 2023
The total value of pension transfer deals in the U.K. hit a record-breaking £50 billion ($64 billion) in 2023, Hymans Robertson said Tuesday, with the number of transactions also eclipsing previous highs.
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March 12, 2024
CMS Guides UK Cash Savings Platform On £108M Investment
Flagstone has secured a £108 million ($138 million) investment from U.S. private equity firm Estancia Capital Partners to help it "capitalize on the opportunities ahead" in Britain's savings market.
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March 12, 2024
Accor Buys Back 3% Of Shares From Chinese Co. For €275M
French hospitality giant Accor said Tuesday that it has bought back 2.77% of its own shares from Chinese tourism group Jinjiang International for €275 million ($301 million) as part of its buyback program for 2024.
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March 12, 2024
Domino's Pizza To Buy Irish Franchisee In €92M Deal
Domino's Pizza Group PLC said on Tuesday that it will take full control of its biggest Irish franchisee in a cash, share and debt deal worth €91.9 million ($100 million).
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March 11, 2024
Entire Deadspin Staff Cut After Site's Sale To European Firm
All existing employees of sports blogging site Deadspin have been laid off after finding out Monday that the blog's owner, private equity-backed G/O Media Inc., has agreed to sell the site to European firm Lineup Publishing for an undisclosed price.
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March 11, 2024
Imperial Brands Begins 2nd Tranche Of £1.1B Buyback
Tobacco giant Imperial Brands PLC on Monday launched the second chunk of a share buyback program, worth up to £1.1 billion ($1.4 billion), aimed at lowering its outstanding share capital and rewarding investors.
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March 11, 2024
PE Giant Apax's £220M Offer For Tech Biz Lapses
Apax Partners LLP said Monday its final offer to buy Kin and Carta PLC in a deal worth approximately £220.3 million ($283 million) has fallen through after the technology consultancy didn't respond to its updated proposal by the set deadline on Friday.
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March 11, 2024
Reed Smith Guides Nanoco's £33M Buyback, After Litigation
Nanoco said on Monday that it will repurchase shares worth £33 million ($42 million) from investors after the nanotechnology company won a $150 million windfall from a Texas patent infringement lawsuit against South Korean electronics giant Samsung.
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March 11, 2024
Fladgate To Help LoopUp Group Delist From London's AIM
Cloud communications provider LoopUp Group PLC said Monday that it plans to pull its shares from trading on the London Stock Exchange's junior market after concluding that it would be easier to raise funds as a private company.
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March 11, 2024
US Fund Manager Elliott Pulls £760M Bid For Currys
U.S. investment firm Elliott Advisors said Monday that it will not make another offer for Currys PLC, after the British electrical retailer snubbed a £760 million ($976 million) proposed takeover bid in February.
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March 08, 2024
Founder Of France's Believe Touts 1st Bid Over Rival Offer
A consortium of investors looking to take over French digital music company Believe SA on Friday acknowledged a competing offer lobbed by entertainment conglomerate Warner Music Group while reiterating that it believes its own bid is "best positioned" to help the music company thrive.
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March 08, 2024
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen Barclays initiate legal proceedings against top Russian private bank JSC Alfa-Bank; Lex Greensill, founder of the collapsed Greensill Capital, suing the U.K.'s Department for Business and Trade; Wikipedia's parent company hit with a libel claim; and a sports journalism teacher filing a data protection claim against Manchester United FC. Here, Law360 looks at these and other new claims in the U.K.
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March 08, 2024
Slaughter And May Guides PE Firm's £432M Wealth Firm Buy
Pollen Street Capital said Friday that its subsidiary has agreed to fully buy out Mattioli Woods, a wealth management company, for approximately £432 million ($556 million), as the U.K. private equity investor looks to capture a slice of the lucrative sector.
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March 08, 2024
Taxation With Representation: Fried Frank, Latham
In this week's Taxation with Representation, Viavi acquires Spirent, Cadence Design Systems purchases Beta Cae Systems International, and United Rentals buys Yak.
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March 08, 2024
Linklaters Guides Mondi's £5.1B Deal For DS Smith
Mondi PLC said it plans to swallow up British rival DS Smith for £5.1 billion ($6.6 billion) in an all-share deal to create a Europe-wide sustainable packaging giant.
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March 08, 2024
Insurer Beazley Begins $325M Share Buyback As Profit Soars
Beazley began a share buyback on Friday worth up to $325 million in a move to lower its outstanding share capital and reward investors, as its pre-tax profits more than doubled to $1.25 billion.
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March 08, 2024
Tech Retailer Gets Nod To Sell Greek, Cyprus Biz For €200M
Currys said on Friday that it has gained regulatory approval for the €200 million ($219 million) sale of its retail businesses in Greece and Cyprus as the U.K. electronics giant seeks to streamline its business.
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March 08, 2024
UK Not So Sweet On Tate & Lyle Deal, Could Raise Prices
The antitrust authority said on Friday that it doesn't see a sweetener in the planned acquisition by Tate and Lyle of the U.K. business of Tereos, as the deal could raise the price of sugar on shelves for shoppers.
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March 07, 2024
Spain's Iberdrola Lobs $2.5B Bid For Rest Of Avangrid
Spanish renewable energy company Iberdrola SA has proposed to take its portfolio company, sustainable energy company Avangrid, private by purchasing the remaining issued and outstanding shares it does not already own in a $2.48 billion deal, according to Thursday statements from the parties.
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March 07, 2024
SME Loans Biz Reveals £25M Buyback To Boost Stock Price
Funding Circle Holdings PLC on Thursday said it will launch a share buyback program worth up to £25 million ($32 million), in a move to boost its "undervalued" stock.
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March 07, 2024
Warner Music To Make €1.7B Offer For France's Believe
U.S.-based entertainment conglomerate Warner Music Group on Wednesday confirmed that it has expressed interest in acquiring Believe SA in a deal that could value the French digital music company at approximately €1.65 billion ($1.8 billion).
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March 07, 2024
Avoiding IP Pitfalls During 'Build To Buy' Deals In Biotech
Pharmaceutical companies considering whether to enter into transactions to fund, guide and eventually buy biotech innovations must protect themselves by considering all possible scenarios that could lead to an intellectual property dispute before signing the deal, lawyers caution.
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March 07, 2024
HSS Sells 2 Power Generator Firms For £23M To Cut Debt
HSS said Thursday that it has sold two power generator companies to CES Global, a U.S. company that provides portable power for large events, together for £23.25 million ($30 million).
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March 07, 2024
UK Watchdog Probes Utility's £89M Water Biz Acquisition
Britain's antitrust authority on Thursday said it is launching a probe into water and energy utility company Pennon Group PLC's proposed approximately £89 million ($113 million) acquisition of Sumisho Osaka Gas Water UK Ltd. from two Japanese firms.