Transactions UK

  • May 28, 2024

    Autonomy Founder Says HP 'Panicked,' Tried To Unwind Deal

    Autonomy founder Michael Lynch testified Tuesday in a California federal criminal trial over claims he conned HP into overpaying for his company that HP's board "panicked" after news of the acquisition leaked and HP's stock dropped 20%, that HP fired its CEO and that it attempted to back out of the deal.

  • May 28, 2024

    Energy Capital Raises $6.7B, Inks $2.6B Atlantica Acquisition

    Energy Capital Partners has amassed $6.7 billion for its latest fund and co-investment vehicle and has also struck an agreement to buy Atlantica Sustainable Infrastructure for $2.6 billion, according to statements Tuesday. 

  • May 28, 2024

    Cleary-Led Chemical Co. Offers $1B For Swedish Drugmaker

    Asahi Kasei Corp. said on Tuesday it had offered to buy out Stockholm-based drugmaker Calliditas Therapeutics AB for 11.1 billion Swedish krona ($1.06 billion), as the Japanese chemical company aims to increase its presence in the global pharmaceutical sector.

  • May 28, 2024

    Paul Hastings Steers Oakley Capital In ProductLife Investment

    Oakley Capital Investments, a listed investment trust that invests in the funds of private equity investor Oakley Capital, said it will indirectly invest an anticipated approximately £41 million ($52.4 million) into compliance services provider ProductLife Group.

  • May 28, 2024

    Greenberg Traurig Adds Tax Pro From MoFo In London

    Greenberg Traurig LLP added to its deep bench of legal talent by recruiting a tax partner from Morrison & Foerster to join the firm's London office and co-chair its tax practice, the firm said.

  • May 28, 2024

    Aviva Completes £130M Pension Deal With Telereal

     A property investment company has offloaded £130 million ($166 million) of its pension liabilities to Aviva PLC, the insurer said Tuesday.

  • May 28, 2024

    Latham Leads Bridgepoint To Buy Intranet Co. For $650M

    Private investor Bridgepoint Group PLC said on Tuesday that its fund has agreed to fully buy out LumApps, a French intranet provider, from its four backers for a total of $650 million, as the British company seeks a slice of the growing technology sector.

  • May 28, 2024

    Packaging Co. Bunzl Wraps £339M Acquistion Of Nisbets

    Bunzl PLC said Tuesday it has completed its purchase of 80% of food service distributor Nisbets for an initial payment of £339 million ($433 million), after receiving regulatory clearance for the transaction.

  • May 28, 2024

    Pension Deals Market Working For Small Providers, Aon Says

    The deal market for small pension schemes looking to offload their liabilities to insurers is working despite fears that such plans are being crowded out of the market, Aon said Tuesday.

  • May 28, 2024

    Struggling Revolution Bar Chain Says Rescue Plan Won't Work

    Troubled nightlife chain Revolution Bars said Tuesday that a rescue deal proposed by Nightcap, a rival operator, is "incapable of being delivered" because of "untested legal and procedural issues."

  • May 28, 2024

    White & Case Guides ABN Amro On €672M German Bank Buy

    Dutch lender ABN Amro said Tuesday that it plans to a buy German private bank for €672 million ($730 million) in a move to become one of the largest providers of banking services to wealthy clients in Germany.

  • May 24, 2024

    The UK Laws That Will Pass Or Fail As Election Looms

    Prime Minister Rishi Sunak's decision to call an early general election to be held on July 4 has left several pieces of legislation hanging in the balance during the so-called "wash-up" period before Parliament is formally dissolved, while others have been pushed through. 

  • May 24, 2024

    UK Litigation Roundup: Here's What You Missed In London

    This past week in London has seen an IT engineer seek permission to search a landfill hiding a hard drive supposedly storing millions of pounds in bitcoin, Glencore take on legal action by American Century Investments, gold payment app Glint bring a breach of duty claim against FRP Advisory, and an ongoing dispute between a solicitor and the Solicitors Regulation Authority. Here, Law360 looks at these and other new claims in the U.K.

  • May 24, 2024

    Investor CriteriaCaixa Buys Construction Biz Stake For €983M

    Spanish investor CriteriaCaixa said on Friday that it has purchased a 9.4% stake in construction and infrastructure firm ACS for €983 million ($1.1 billion), boosting its portfolio of investments.

  • May 24, 2024

    Viavi's £1B Offer For London-Listed Spirent Lapses

    Communications group Viavi said Friday that it is terminating its approximately £1 billion ($1.27 billion) offer that it made in March for telecom testing specialist Spirent after it let the offer period lapse this week by accepting a rival bid.

  • May 24, 2024

    CMA To Probe $295M Roche Diagnostics Deal

    Britain's antitrust regulator said Friday that it has decided to launch a probe into Swiss drugmaker Roche's proposed $295 million purchase of parts of diagnostic company LumiraDx days after inviting public feedback to assess if the deal could harm competition.

  • May 24, 2024

    John Wood Rebuffs £1.5B Takeover Bid Despite Sweetener

    Oil and gas engineering consultancy John Wood Group said on Friday it has rejected a third takeover offer of £1.5 billion ($1.9 billion) from Sidara after concluding the sweetened bid "significantly undervalues" its business.

  • May 24, 2024

    Addleshaw Guides Coventry's £780M Co-op Bank Deal

    Coventry Building Society has formalized plans to buy the Co-operative Bank for £780 million ($990 million), the lenders said in a joint statement Friday, a move they claim will create an institution better equipped to challenge larger high street names.

  • May 23, 2024

    Skadden-Led Hg Buys Risk Platform Co. AuditBoard For $3B

    Cooley LLP-advised AuditBoard Inc. on Thursday announced that it has agreed to be bought by European software and services business investor Hg Capital, guided by Skadden Arps Slate Meagher & Flom LLP, in a deal valued at over $3 billion.

  • May 23, 2024

    NY Top Court Revives FanDuel Investors Suit

    New York's top appeals court on Thursday revived a suit brought by FanDuel investors who claim they were deprived of profits from a merger, disagreeing with a lower court's interpretation of Scottish law.

  • May 23, 2024

    Deals Rumor Mill: NY Yankees, Abu Dhabi Bank, Int'l Paper

    Yankees’ minority stake could hit the market, First Abu Dhabi could pay $8 billion for a stake in an Istanbul-based lender, and Suzano could sweeten its $15 billion bid for International Paper. Here, Law360 breaks down the notable deal rumors from the past week.

  • May 23, 2024

    White & Case Adds Former A&O Tax Pro In Luxembourg

    White & Case LLP announced it has added a tax partner to its Luxembourg office from A&O Shearman who specializes in international and Luxembourg corporate tax law.

  • May 23, 2024

    Billionaire Xavier Niel Mulling Potential $4.1B Millicom Buyout

    French billionaire Xavier Niel's Atlas Investissement confirmed Thursday that it is exploring a potential all cash tender offer for Luxembourgish telecommunications provider Millicom International Cellular SA. 

  • May 23, 2024

    Linklaters Guides National Grid On £7B Rights Issue

    National Grid said on Thursday that it will raise net funds of approximately £7 billion ($9 billion) by issuing shares to investors as the owner and operator of gas and electricity networks looks to finance an infrastructure upgrade.

  • May 23, 2024

    A&O Shearman-Led Great Portland Estates To Raise £350M

    Property developer and investor Great Portland Estates PLC said Thursday it is aiming to raise £350 million ($445.5 million) with a rights issue, as the British property developer and investor eyes exploiting relatively low real estate prices in central London.

Expert Analysis

  • How Gov't Response Addresses Investment Act Concerns

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    The government’s recently published response to a call for evidence on the National Security and Investment Act is largely appropriate to stakeholder concerns raised and demonstrates in its five areas of focus that it is willing to respond to live issues, say lawyers at Watson Farley.

  • Pharma Remains A Key Focus Of EU Antitrust Enforcement

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    The recently published European Commission report on pharmaceutical sector competition law illustrates that effective enforcement of EU rules remains a matter of high priority for EU and national authorities, say lawyers at Dechert.

  • The Dangers Of Providing Misleading Info In A Merger Review

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    Although Kingspan's recent proposed acquisition of Trimo, brought before the European Commission, was abandoned following investigation for an alleged breach of EU Merger Regulation requirements, it has brought to light the importance of submitting accurate and complete information in merger reviews to avoid incurring a substantial fine, say lawyers at Steptoe.

  • Cum-Ex Prosecutions Storm Shows No Sign Of Abating

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    The ongoing trial of Sanjay Shah in Denmark is a clear indicator that efforts remain focused on holding to account the alleged architects and beneficiaries of cum-ex trading, and with these prosecutions making their way across Europe, it is a more turbulent time now than ever, says Niall Hearty at Rahman Ravelli.

  • Spartan Arbitration Tactics Against Well-Funded Opponents

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    Like the ancient Spartans who held off a numerically superior Persian army at the Battle of Thermopylae, trial attorneys and clients faced with arbitration against an opponent with a bigger war chest can take a strategic approach to create a pass to victory, say Kostas Katsiris and Benjamin Argyle at Venable.

  • EU Inquiry Offers First Insight Into Foreign Subsidy Law

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    The European Commission's first in-depth investigation under the Foreign Subsidies Regulation into a public procurement process, and subsequent brief on regulatory trends, sheds light on the commission's approach to such cases, as well as jurisdictional, procedural and substantive issues under the regulation, says Matthew Hall at McGuireWoods.

  • Key Points From EC Economic Security Screening Initiatives

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    Lawyers at Herbert Smith analyze the European Commission's five recently announced initiatives aimed at de-risking the EU's trade and investment links with third countries, including the implementation of mandatory screening mechanisms and extending coverage to investments made by EU companies that are controlled subsidiaries of non-EU investors.

  • Vodafone Decision Highlights Wide Scope Of UK's FDI Rules

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    The U.K. government’s recently imposed conditions required for its approval of Vodafone and Etisalat’s strategic relationship agreement under its National Security and Investment Act jurisdiction, illustrating the significance of the act as an important factor for transactions with a U.K. link, says Matthew Hall at McGuireWoods.

  • What Extension Of French FDI Control Means For Investors

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    The recently published French order on foreign investment control expands the regime's application to more sectors and at a lower threshold of share ownership, illustrating France's determination to maintain sovereignty over its supply chains in sensitive sectors, and adding new considerations for potential investors in these areas, say lawyers at Linklaters.

  • What To Expect For Private Capital Investment Funds In 2024

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    As 2024 gets underway, market sentiment in the private fundraising sphere seems more optimistic, with a greater focus on deal sourcing and operational optimizations, and an increased emphasis on impact and sustainability strategies, say lawyers at Ropes & Gray.

  • Cayman Islands Off AML Risk Lists, Signaling Robust Controls

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    As a world-leading jurisdiction for securitization special purpose entities, the removal of the Cayman Islands from increased anti-money laundering monitoring lists is a significant milestone that will benefit new and existing financial services customers conducting business in the territory, say lawyers at Walkers Global.

  • Acquisition Of AI Tech Poses Challenges For Media Industry

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    The artificial intelligence regulatory landscape is changing quickly, and media and entertainment companies planning to acquire AI technology through a merger, acquisition or licensing deal should be mindful of potential new compliance requirements and AI-specific insurance products, say lawyers at Covington.

  • Due Diligence Pointers After Entain Deferred Prosecution Deal

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    The Crown Prosecution Service's £615 million settlement with Entain last month signifies that the CPS is a serious enforcer of corporate crime, and illustrates the importance of carrying out a tailored risk assessment in preparation for and following an acquisition, say Matthew Cowie and Aziz Rahman at Rahman Ravelli.

  • What Can Be Learned From Adobe-Figma Merger Termination

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    The Competition and Markets Authority’s role in the recent termination of the proposed Adobe-Figma merger deal indicates the regulator's intention to be seen as a strong enforcer in the technology sphere, and serves as a warning for companies to address antitrust risks early on in the merger process, say Deirdre Taylor and Molly Heslop at Gibson Dunn.

  • How FCA Listing Regime Reform Proposals Are Developing

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    The Financial Conduct Authority’s recently proposed U.K. equity listings reforms maintain increased flexibility with a disclosure-based approach, but much of the new regime’s success will depend on the eligibility criteria used and whether additional governance will be required for inclusion, say lawyers at Debevoise.

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