Transactions UK

  • March 13, 2024

    Security Tech Biz Claims $12.5M For 'Obsolete' CCTV Software

    A Taiwanese security technology company has countersued an AI video analytics business for $12.5 million over a deal to buy the rights to CCTV-analyzing technology, arguing that the software it bought was "near obsolete."

  • March 13, 2024

    Balfour Beatty To Return £100M To Shareholders

    Balfour Beatty PLC said Wednesday it plans to buy back shares worth up to £100 million ($128 million) under its 2024 stock repurchase scheme aimed at lowering its outstanding share capital and rewarding investors.

  • March 13, 2024

    Gordons, Pinsent Masons Steer Academy Buy Of Allianz Unit

    Academy Insurance Services has agreed to acquire the Premierline commercial insurance arm of insurance giant Allianz in the U.K. for an undisclosed amount in a deal guided by Pinsent Masons LLP and Gordons LLP.

  • March 20, 2024

    King & Spalding Hires Paul Hastings Finance Pro

    King & Spalding LLP has appointed Paul Hastings LLP finance expert Peter Schwartz as partner in its London office in a bid to boost its European corporate practice.

  • March 13, 2024

    Taylor Wessing's Legal App Teams Up With Fundraising Site

    Taylor Wessing LLP said on Wednesday that its app designed to help startup companies manage their legal requirements has worked with an investment platform to offer growing businesses a "competitive" edge during fundraising.

  • March 13, 2024

    Insurer Direct Line Snubs £3.2B Improved Ageas Bid

    British insurer Direct Line on Wednesday said it had rejected an improved £3.2 billion ($4.1 billion) offer from Belgian rival Ageas because it still "significantly undervalues" the group.

  • March 13, 2024

    Eversheds, Goodwin Lead €141M Sale Of Surgical Parts Biz

    Advanced Medical Solutions Group PLC said Wednesday that it has agreed to acquire a French maker of surgical devices, Peters Surgical, for approximately €141 million ($154 million) to strengthen its position as a specialist in tissue repair.

  • March 13, 2024

    Orsted Sells Stake In 4 Onshore US Wind Farms For $300M

    Danish energy giant Orsted said Wednesday that it will sell a stake in a portfolio of four U.S. onshore wind farms to investment firm Stonepeak for $300 million.

  • March 12, 2024

    Vorys Advises Infrastructure Biz On Up To $8.75M Acquisition

    Hill & Smith PLC said Tuesday it has purchased nuts and bolts distributor FM Stainless LLC for up to $8.75 million, guided by Vorys Sater Seymour and Pease LLP.

  • March 12, 2024

    Spanish PE Firm Denies Owing PwC €2M Over Hotel Deal

    A Spanish private equity firm has said it does not owe a €2 million ($2.2 million) fee to PricewaterhouseCoopers LLP, claiming the Big Four accounting firm failed to provide all the services required under an agreement to raise money to buy a hotel in Mallorca.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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).

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

Expert Analysis

  • ClientEarth Claim May Expand Scope Of Directors' Duties

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    In using litigation to hold Shell’s board of directors to account for failing to properly prepare for the net-zero transition, ClientEarth’s actions represent a shift in climate change activism strategy and an unprecedented application of directors’ duties as a mechanism to drive change, say Marlene Henderson and Danielle De Val at Browne Jacobson.

  • Volatile Energy Prices Complicate Int'l Arbitration Damages

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    In the turbulent global energy market, international arbitration is a crucial tool for resolving cross-border disputes — but determining how, if at all, to account for recent energy price spikes when quantifying damages presents many challenges for tribunals, say attorneys at White & Case.

  • A Breakdown Of The SRA's Proposed New Fining Powers

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    Thanks to the Solicitors Regulation Authority's pending new fining framework, which includes guidance on unsuitable fines and a fixed penalties scheme for low-level breaches, firms can expect to see more disciplinary findings leading to an SRA fine rather than referral to the Solicitors Disciplinary Tribunal, say Graham Reid and Shanice Holder at RPC.

  • Merger Ruling Shows Risk Of Not Seeking Prior CMA Approval

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    The recent decision by the U.K. Competition and Markets Authority to unwind the acquisition by Cerelia Group of Jus-Rol demonstrates that despite the voluntary nature of the U.K. reporting regime, parties may wish to consider the potential for wider scrutiny when deciding whether to seek merger control clearance, say attorneys at Hogan Lovells.

  • Warranty & Indemnity Insurance Considerations For M&A

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    With increased competition and greater capacity leading to lower premiums and deal costs, warranty and indemnity insurance is now available to the wider M&A market, and may help to limit risk and help parties focus on other key elements of the transaction, says Alice Wooler at Birketts.

  • What The Dignity Takeover Deal Says About M&A Trends

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    While some public companies may prefer to go private to maximize company growth and shareholder returns, there are potential pitfalls and in the current uncertain economic climate pairing up between private equity and public entities is likely to increase, as evidenced by the recent Dignity takeover deal, says James Lyons at Lawrence Stephens.

  • How Geopolitical Change Is Affecting M&A Activity In Europe

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    Several factors are leading businesses to divest from Russia and invest in central and Eastern European EU member states, with particular sectors attractive to U.K. companies and certain trends in M&A transactional activity emerging, says Oksana Howard at Colman Coyle.

  • Discovery Blocking Reform Better Protects French Companies

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    The 2022 reforms to France's 1968 blocking statute gives French companies more tools to resist abusive discovery requests from foreign competitors and public agencies, but France should do more to defend confidential information and assert its sovereignty, says Raphael Gauvain at Betto Perben.

  • A Look At New Vertical Laws, Their Opportunities And Pitfalls

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    Looking at trends that have gained the most traction under the new vertical laws in the EU and U.K., it is clear that brands should use the transition period wisely, ensuring that lessons have been learned on what to avoid and that go-to-market strategies are future-proof, say attorneys at K&L Gates.

  • Why 2023 Could Be The Year Of The Restructuring Plan

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    As U.K. businesses face a challenging economic environment going into 2023, the stage may be set for a rise in restructuring plans, with early signs such as an increasing body of case law, the pragmatic approach taken by the judiciary to date and the cross-class cramdown mechanism, say Rachael Markham and Charlotte Møller at Squire Patton.

  • How Mur Ruling May Affect Force Majeure Considerations

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    The recent U.K. Court of Appeal decision in Mur Shipping v. RTI demonstrates that exercising reasonable endeavors can include payment in an alternative currency to overcome a force majeure event, and is topical for contracting parties in light of Russia-related sanctions, say attorneys at Debevoise.

  • ECJ Fiat Ruling Sets Clear Boundaries For EU State Aid Law

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    The European Court of Justice's recent landmark decision in Fiat v. Commission limiting the commission’s attempts to circumvent the lack of EU powers in the area of tax law has important implications in EU state aid law and beyond, say Andreas Reindl and Pietro Stella at Van Bael.

  • Cos. Can Expect Intense Antitrust Enforcement This Year

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    In 2023, authorities in the U.K. and Europe are expected to push the boundaries of antitrust enforcement, merger control and foreign investment screening with the goal of achieving positive outcomes for consumers, say Nicole Kar and Tara Rudra at Linklaters.

  • Foreign Direct Investment Considerations For Buyers, Sellers

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    The rapidly developing legal and regulatory foreign direct investment landscape means the challenge for deal makers is in navigating the continuously changing rules and understanding the manner in which regulators interpret them, says Kurt Ma at BCLP.

  • Widely Forecast UK Recession Is Likely To Reshape M&As

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    Despite the economic downturn in the U.K., transactions will continue to get done in 2023, albeit with more complex terms and a greater focus on undertaking vigorous due diligence on customer relationships and contracts, say attorneys at Skadden.

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