Transactions UK

  • February 15, 2024

    Osborne Clarke Steers £114M Standard Life Pension Deal

    Standard Life said Thursday that it has completed a £114 million ($143 million) buy-in transaction guided by Osborne Clarke LLP to acquire the pensions of around 1,800 members of the Vector Pension Scheme.

  • February 15, 2024

    Enviro Investment Biz Plans £20M Buyback As Shares Dive

    Bluefield Solar Income Fund Ltd. said on Thursday that it has set aside £20 million ($25 million) for a share buyback program to address a significant fall in its share price.

  • February 15, 2024

    Cleary-Led GSK Completes $1.4B Asthma Drug Biz Buyout

    GSK said Thursday that it has finalized the purchase of asthma drug developer Aiolos Bio Inc. for up to $1.4 billion, as the U.K. pharmaceuticals giant adds a potentially revolutionary respiratory treatment to its portfolio.

  • February 15, 2024

    RELX Plans £1B Buyback In 2024 Amid Strong Profits

    Information and analytics heavyweight RELX PLC said Thursday that it plans to line shareholders' pockets with £1 billion ($1.3 billion) over 2024 after reporting a 15% rise in its operating profit for 2023.

  • February 15, 2024

    Addleshaw Goddard Adds BoE Deputy GC To Finance Team

    Addleshaw Goddard said on Thursday that it has hired the Bank of England's deputy general counsel as a partner to bolster its financial services regulation team in London.

  • February 14, 2024

    BAE's $5.6B Bid For Ball Aerospace Arm Clears Review

    The U.S. Department of Justice has ended its review of BAE Systems PLC's acquisition of Ball Corp.'s aerospace subsidiary for $5.6 billion, providing the last approval needed for the transaction, the companies said Wednesday.

  • February 14, 2024

    Orrick Hit By Exodus To Hogan Lovells, BonelliErede In Italy

    Orrick Herrington & Sutcliffe LLP's Italian arm this week has seen nearly 40 lawyers — around half its Italian cohort — jump ship to rival firms Hogan Lovells and BonelliErede, in a blow to the U.S. firm's European presence.

  • February 14, 2024

    DLA Piper Advises Research Biz In £1.38M Placing

    Research company Fusion Antibodies PLC said Wednesday it has conditionally raised around £1.38 million ($1.73 million) by issuing shares to investors, guided by DLA Piper.

  • February 14, 2024

    BDO Sues Insurance Broker Over Unpaid M&A Advisory Fee

    Accounting firm BDO LLP has sued KGJ Insurance Services and three of its directors over claims they failed to pay out for the advisory services BDO provided the insurance broker as it looked for a new buyer.

  • February 14, 2024

    UK Access Rules Too Burdensome, Say European Funds

    An association for Europe's investment managers has asked the Financial Conduct Authority to make its planned regime giving European funds "equivalent" access to U.K. markets less burdensome, given similar requirements do not exist for U.K. funds.

  • February 14, 2024

    ABN AMRO Unveils €500M Share Buyback As Profit Rises

    ABN Amro Bank NV said Wednesday it will launch a share buyback program worth up to €500 million ($535 million), as it announced a leap in its profit, helped by higher interest rates.

  • February 14, 2024

    Property Biz Sells Virgin Atlantic Office For £26M

    Balanced Commercial Property Trust said Wednesday that it has agreed to sell the biggest office building in its portfolio, currently occupied by Virgin Atlantic, for £26.1 million ($32.7 million).

  • February 14, 2024

    Belgian Law Firm Guides Shipowner In €2B Bid For Rival

    Belgian shipping group Compagnie Maritime Belge NV said Wednesday it has launched a bid to buy all the shares in rival Euronav NV that it does not already own for €2 billion ($2.2 billion) to expand its presence in Europe.

  • February 14, 2024

    FCA Flagged 10,000 Misleading Financial Ads In 2023

    Britain's finance watchdog has ramped up its fight against misleading financial advertisements, reporting on Wednesday that it intervened to have more than 10,000 promotions posted online without proper authorization pulled or amended in 2023.

  • February 14, 2024

    TUI Shareholders Vote Overwhelmingly To Drop LSE Listing

    Shareholders in German travel giant TUI AG voted almost unanimously to remove the company's shares from the London Stock Exchange in favor of Germany after it revealed that less than a quarter of its trading takes place in the U.K.

  • February 13, 2024

    Biotech Investor Acquires Rival's Assets Worth $284M

    Biotechnology investor RTW Biotech Opportunities Ltd. said Tuesday that it has acquired the assets of its rival Arix Bioscience PLC, which are worth nearly $284 million excluding liabilities.

  • February 13, 2024

    EU Conditionally Clears Korean Air's Acquisition Of Asiana

    The European Commission granted conditional approval on Tuesday for the proposed $1.6 billion acquisition of Asiana Airlines by Korean Air Lines Co. Ltd. after accepting modifications to allay competition concerns.

  • February 13, 2024

    The Body Shop Appoints Administrators After PE Buyout

    The Body Shop on Tuesday appointed administrators to restructure its business, just months after the British cruelty-free cosmetics and skin care brand was bought out by European private equity firm Aurelius Group for £207 million ($261 million).

  • February 13, 2024

    JPMorgan Trust To Raise £40M After Demand From Investors

    Investment trust JPMorgan Global Growth & Income PLC said Tuesday that it is looking to raise up to £40 million ($50.4 million) in a share offering in light of "the ongoing demand in the market."

  • February 13, 2024

    Green Infrastructure Investor In £20M Deal For Energy Biz

    The Renewables Infrastructure Group Ltd., also known as Trig, said on Tuesday it has acquired Fig Power, an energy projects business focused on battery storage, in a deal worth approximately £20 million ($25 million).

  • February 13, 2024

    Michelin Plans €1B Share Buyback, Dividend Increase

    Michelin has proposed to repurchase up to €1 billion ($1.07 billion) of its own shares over the next two years, as the French multinational tire maker reported a "solid financial structure" despite a "challenging" business environment.

  • February 13, 2024

    LSE Faces 2 More Delistings Amid Exodus Concerns

    The board of German travel giant TUI urged shareholders on Tuesday to vote in favor of taking its listing off the London exchange as a consumer brands group signaled that it also plans to join an exodus of companies from the U.K. market.

  • February 12, 2024

    Tod's Stock Rises After Go-Private Takeover Bid Disclosed

    Italian luxury shoe and apparel manufacturer Tod's Group experienced a more than 18% stock bump Monday after disclosing a go-private offer from private equity firm L Catterton valued at €43 ($46.36) per share.

  • February 12, 2024

    Proskauer Hires Sidley Austin's Funds Head In London

    Proskauer Rose LLP has brought aboard a new partner with years of experience at the helm of Sidley Austin LLP's investment funds practice, to co-lead its global credit funds and sovereign wealth funds initiatives.

  • February 12, 2024

    Danish Lender Spar Nord Kicks Off $72M Share Buyback

    Spar Nord Bank AS launched on Monday a share repurchase program worth up to 500 million Danish kroner ($72 million) aimed at lowering its outstanding share capital, after raking in bumper profits.

Expert Analysis

  • UK Review May Lead To Lower Investment Screening Burden

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    The government’s current review of national security investment screening rules aims to refine the scope of mandatory notifications required for unproblematic deals, and is likely to result in much-needed modifications to minimize the administrative burden on businesses and investors, say lawyers at Simpson Thacher.

  • Tools M&A Deal Makers Can Use To Bridge Valuation Gaps

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    As macroeconomic headwinds reset valuation expectations, parties to merger and acquisition are increasingly looking to methods such as earnouts, vendor financing and minority transactions to bridge the valuation gap and get deals done, says Philip Herbst at Cleary.

  • Takeaways From The CMA's Green Collaboration Guidance

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    Recently published Competition and Markets Authority guidance on the application of competition law to environmental sustainability agreements should remove barriers for businesses that want to collaborate on environmental sustainability without breaking the law, say attorneys at Eversheds Sutherland.

  • What The Anti-Coercion Instrument Will Bring To The EU

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    Vassilis Akritidis and Jean-Baptiste Blancardi at Crowell & Moring discuss why the European Union recently adopted a report on the anti-coercion instrument to reform its trade legislation, how the instrument will be used to respond to unfair economic pressure from third countries, and how businesses can impact the EU's decision making.

  • CMA Report On AI May Lead to Greater Competition Control

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    The U.K. Competition and Markets Authority’s recent report on artificial intelligence foundation models is a sign that developers could face increased merger control and antitrust enforcement, and businesses should be mindful of these views to ensure that their models do not come under investigation, say attorneys at Morgan Lewis.

  • Recent Trends In European ESG-Related Shareholder Activism

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    New ESG reporting standards in the European Union, as well as recent climate change, board diversity and human rights cases, illustrate how shareholder activism may become more prominent in years to come as regulation and investor engagement continues to strengthen, say lawyers at Debevoise.

  • Employer Due Diligence Lessons From Share Scheme Case

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    The Scottish Court of Session recently confirmed in Ponticelli v. Gallagher that the right to participate in a share incentive plan transfers to the transferee, highlighting the importance for transferee employers to conduct comprehensive due diligence when acquiring workforce, including on arrangements outside the employment contract's scope, say lawyers at McDermott.

  • 4 Compliance Considerations Under FCA Consumer Duty

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    Following the U.K. Financial Conduct Authority's recent introduction of the new consumer duty regime, firms will need to be mindful of data protection implications when managing their compliance with the duty and data protection legislation, say lawyers at Bird & Bird.

  • How The UK Investment Screening Regime Is Taking Shape

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    A recent order imposing remedies on an acquisition by EDF Energy highlights emerging trends in the U.K. government's national security reviews of transactions under the U.K. National Security and Investment Act, and shows how the U.K. remedy landscape compares to the U.S. regime, say lawyers at Arnold & Porter.

  • EU Antitrust Rules Set To Pose Challenges To US Businesses

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    With stark differences between U.S. and European Union antitrust regimes, and potential for the forthcoming EU guidelines to turbocharge the commission's appetite for intervention, it is important that U.S. businesses with activities in the region take note of the reforms, say Andrea Pomana and Sarah Wilks at Mayer Brown.

  • German Competition Law May Herald New Enforcement Trend

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    The recent amendment to the German Act against Restraints of Competition is expected to significantly expand the powers of the German Federal Cartel Office, and could signal a global trend toward greater direct intervention by national competition authorities and political interference in competition law, say lawyers at Simmons & Simmons.

  • How The OECD Global Tax Proposal Could Affect M&A

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    Following agreement on the Organization for Economic Cooperation and Development’s Pillar Two proposal to introduce a global minimum tax, domestic implementation is expected to have a significant impact on international M&A transactions, with financial modeling, deal structuring, risk allocation and joint venture arrangements likely to be affected, say lawyers at Freshfields.

  • A Look At German And French Merger Control Trends In 2023

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    Merger control statistics from the first half of 2023 in Germany and France — key merger control jurisdictions with strict enforcement and sophisticated analysis tools — highlight trends on the length and number of investigations by the respective authorities, say Laurence Bary and Clemens Graf York von Wartenburg at Dechert.

  • UK Shares-Tax Proposals Offer Long-Awaited Modernization

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    The U.K. government's recent consultation on the introduction of a new tax on transactions in securities raises detailed legal and practical issues, but the prospect of a single digital stamp tax offering both streamlined legislation and administration will be welcomed, say Zoë Arnautov and Mark Sheiham at Simmons & Simmons.

  • EU Illumina-Grail Fine Cools Cos.' Merger Control Approach

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    The European Commission's recent record-breaking fine on Illumina for acquiring Grail without approval underscores its tough stance on merger control enforcement, showing that companies in Europe need to be vigilant in complying with regulatory requirements, say Salomé Cisnal de Ugarte and Raphaël Fleischer at King & Spalding.

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