Slaughter And May-Led Intertek Rejects EQT's Higher £9B Bid

By Tom Fish

Intertek Group PLC has rejected a third takeover proposal from a subsidiary of Swedish private equity firm EQT AB, saying on Friday that the latest offer continues to undervalue the British laboratory testing company and still carries too much risk.

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Commerzbank Lifts Outlook As It Fends Off UniCredit Bid

By Najiyya Budaly

Commerzbank AG published plans on Friday to boost future profitability as the German lender builds defenses against a takeover bid from Italy's UniCredit SpA, which it described as vague and fraught with "considerable execution risks."

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Reed Smith Guides Founder's £11M Takeover Of Software Biz

By Dawood Fakhir

Property software business Essensys said Friday that a takeover offer of approximately £11.3 million ($15.3 million) from its founder has won the support of more than 90% of its shareholders, making it unconditional.

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Brief

PE-Backed JMG Group Buys Trio Of UK Insurance Brokers

By Martin Croucher

Insurance business JMG Group said it has acquired three brokers in the English Midlands as part of a regional expansion.

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2 Firms Advise On OnlyFans Stake Sale At $3.15B Valuation

By Al Barbarino

OnlyFans owner Fenix International Ltd. said Friday it has agreed to sell a minority stake to investment firm Architect Capital in a deal valuing the company at $3.15 billion, with the transaction aimed at expanding the platform's financial services and creator tools.

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PMI, Schroders Launch Pension Governance Investing Survey

By Joel Poultney

The Pensions Management Institute and Schroders have said they will investigate how governance of investment in defined benefit retirement plans is changing in real time, amid record funding positions for pensions in Britain.

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EU Fund Managers Warn Against Shareholder Rights Overhaul

By Alex Davidson

A trade body for European fund managers warned lawmakers Friday against large-scale changes to the Shareholders' Rights Directive that would obstruct investors' existing rights.

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Seraphim Space Raises £137M Through C Share Issue

By Dawood Fakhir

Space tech firm Seraphim said Friday that it has raised approximately £137 million ($186 million) in equity as part of raising up to £350 million by selling a class of temporary shares.

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Brief

Barclays Launches £500M Buyback After £1B Program Ends

By Irene Madongo

Barclays PLC said Friday that it will reward investors with a new share buyback program worth up to £500 million ($680 million) after it completed a £1 billion repurchase plan. 

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Brief

Smith & Nephew Begins 1st Part Of $500M Share Buyback

By Irene Madongo

Smith & Nephew PLC started a share repurchase program of up to $250 million on Friday, the initial phase of the medical technology giant's new $500 million buyback that is intended to reward investors.

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Roundup

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

By Laura Stewart Liberty

The past week in London has seen Morrisons sued by a former logistics partner, EDF and Cripps LLP face a claim brought by a family estate near Hinkley Point C and a former BBC broadcaster file a defamation claim against a Welsh news site over articles linking her to Russian state media and conspiracy theories. Here, Law360 looks at these and other new claims in the U.K.

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