Analysis

Spire Decision Shows Takeover Rules Have Bite, Lawyers Say

By Najiyya Budaly

The Takeover Panel's decision to place restrictions on a consortium's £1 billion ($1.3 billion) deal for Spire Healthcare shows that the authority's rules will put offerors in their place if their actions threaten to harm market integrity amid increasing take-private deals for listed companies, lawyers say.

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Davis Polk, K&L Gates Steer Taboola's Up To £27M Ad Biz Buy

By Joel Poultney

The European arm of Taboola.com Ltd. said Friday it has agreed to buy British digital advertising business Dianomi PLC for up to £27 million ($36 million), in a deal steered by Davis Polk and K&L Gates.

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Harworth Rebuffs Investor Peel's Sweetened £600M Offer

By Irene Madongo

The board of property developer Harworth Group PLC urged its shareholders on Friday to reject Peel Group's revised £600 million ($802 million) mandatory takeover offer, which it said significantly undervalues the business.

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JPMorgan, Aberdeen UK Trusts Eye Merger

By Irene Madongo

The small firms investment trusts of giant JPMorgan and wealth manager Aberdeen UK on Friday disclosed a preliminary agreement to combine their businesses in a move they expect will create a bigger, cost-efficient company.

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Data Center Infrastructure Company To Explore US Listing

By Tom Fish

Data center infrastructure developer Vesari Inc. is exploring a public listing in the U.S. through a merger with a special purpose acquisition company, alongside raising capital, its majority shareholder said Friday.

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Roundup

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

By Poppy Grainger

The past week in London has seen Victoria's Secret and Thomas Pink file competing IP claims, more than 1,000 retail consumers launch a group action against Binance, Baker Hughes targeted in a commercial claim by its former Russian subsidiary and university students hit four British institutions with breach of contract claims over pandemic-era closures.

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Why Bear Hugs Are Making A Comeback In UK M&A Deals

With "bear hugs" recently reemerging as an attractive negotiation tool for bidders in mergers and acquisitions, both target boards and potential acquirers should note the effect of the City Code on Takeovers and Mergers' timing and drafting limits, says Ben Land-Maycock at Covington.

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