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Transactions UK
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June 03, 2024
Squire Patton Steers WH Ireland On £5M Asset Sale
Wealth manager WH Ireland Group PLC said Monday it has conditionally agreed to sell its capital markets arm and some of its assets to Zeus Capital Ltd. for up to £5 million ($6.4 million).
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June 03, 2024
IT Biz To Buy Tech Consultant's Banking Software For €330M
Franco-American information technology company Axway said Monday that it will buy most of the banking software activities of Sopra Steria Group, in a deal that values the platform at €330 million ($358 million).
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June 03, 2024
Hipgnosis Backs Blackstone's Sweetened £1.6B Buyout Offer
Music rights giant Hipgnosis Songs Fund Ltd. said Monday that it will back a sweetened $1.6 billion bid from Blackstone Inc., as the private equity heavyweight restructures its offer to make it easier to take over the entire company.
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May 31, 2024
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen financier Crispin Odey file a defamation claim against the Financial Times, Ford hit with the latest "Dieselgate" claim and a human rights activist bring a privacy claim against Saudi Arabia. Here, Law360 looks at these and other new claims in the U.K.
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June 07, 2024
Clifford Chance Hires New Capital Markets Partner In Frankfurt
Clifford Chance LLP has brought on a new partner from White & Case LLP to its global capital markets practice in Frankfurt as it aims to strengthen its ability to advise corporate finance clients on a multinational scale.
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May 31, 2024
UBS Formally Completes Merger Of Credit Suisse
UBS Group AG said Friday that it has formally completed the legal merger of stricken Credit Suisse AG, 18 months after regulators brokered the deal to prevent the collapse of its rival.
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May 31, 2024
Investor Sells £262M Of Associated British Foods Shares
Howard Investments Ltd. has sold around 10.3 million shares of giant retailer Associated British Foods PLC, raising approximately £262 million ($333 million), bookrunner UBS AG said Friday.
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May 31, 2024
Freshfields Guides Gov't Sale Of £1.2B In NatWest Shares
HM Treasury said Friday it has sold more NatWest Group PLC shares worth £1.24 billion ($1.57 billion) back to the lender, as the U.K. government continues its planned exit from the bank it nationalized during the global financial crisis.
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May 31, 2024
Revolution Bar Chain To Launch Restructure Plan, Drops Sale
Struggling Revolution Bars said Friday that it will launch a restructuring plan and is no longer looking for suitors after failing to attract offers for the entirety of the nightlife group.
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May 31, 2024
BBVA To Tap Shareholders To Fund €12B Hostile Takeover
Spanish banking giant BBVA said Friday that it has called a shareholders' meeting to approve the sale of new shares in a package to finance the €12 billion ($13 billion) hostile takeover of its smaller rival, Banco de Sabadell SA.
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May 31, 2024
Nationwide's Planned £2.9B Virgin Money Deal Gets UK Probe
The Competition and Markets Authority said Friday it has opened a formal probe into Nationwide Building Society's plans to buy Virgin Money for £2.9 billion ($3.7 billion), which they say would create a combined group with assets of approximately £366 billion.
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May 30, 2024
Autonomy VP Declines To Take Stand As Fraud Trial Nears End
Testimony wrapped Thursday in a California federal criminal trial over claims that former Autonomy CEO Michael Lynch and finance vice president Stephen Chamberlain duped HP into overpaying billions for the British tech company, as Chamberlain opted not to testify in his own defense after Lynch stepped off the witness stand.
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May 30, 2024
Nightcap Backs Away From Bid For Rival Revolution Bars
Nightcap PLC said Thursday it has formally ended its interest in a potential merger with U.K. peer Revolution Bars Group PLC, after its proposal was rejected for being too risky.
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May 30, 2024
John Wood Evaluates Latest £1.6B Potential Takeover Bid
Oil and gas engineering consultancy John Wood Group has confirmed that it has received a "fourth and final" preliminary proposal from Sidara for a takeover cash offer worth approximately £1.59 billion ($2 billion), advised by Slaughter and May.
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May 30, 2024
Swiss Media Biz Buys Stake In Billboard Maker For €90M
NZZ said on Thursday that it has bought a stake in a Swiss outdoor advertising company from French operator JCDecaux SE for €90.3 million ($97.8 million) as the Zurich-based media organization moves to pay for its growth through advertising.
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May 30, 2024
Royal Mail Bidder Backs 'Third Way' Pension Overhaul
The conglomerate controlled by Czech billionaire Daniel Křetínský that bid £3.57 billion ($4.54 billion) for Britain's national postal service has promised to push ahead with a pioneering new retirement savings plan for workers.
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May 30, 2024
Clifford Chance Steers Brookfield's €6B Energy Biz Purchase
Brookfield Corp. said on Thursday that it plans to buy French green energy company Neoen SA for €6.1 billion ($6.6 billion) as the Canadian asset manager moves to diversify its business in the global renewables market.
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May 29, 2024
Autonomy Founder Pushed Sales Team Hard, Jury Hears
A federal prosecutor cross-examining ex-Autonomy CEO Michael Lynch on Wednesday in a criminal fraud trial over claims the British tech tycoon conned HP into overpaying billions for his software company sought to portray Lynch as an overbearing leader who put intense pressure on his team to generate "revenue revenue revenue."
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May 29, 2024
Microsoft's Post-Merger Layoffs Cited In I-Told-You-So Appeal
A private group of gamers is pointing to Microsoft's recent layoffs of 1,900 Activision and XBox employees as evidence of market harms stemming from Microsoft Corp.'s acquisition of Activision Blizzard Inc., as the group seeks to revive a private antitrust suit challenging the merger in the Ninth Circuit.
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May 29, 2024
Gibson Dunn, Skadden Guide $3B Merck-EyeBio Deal
Gibson Dunn-led Merck said Wednesday it has agreed to purchase ophthalmology-focused biotech company Eyebiotech Ltd., or EyeBio, which is represented by Skadden, for up to $3 billion.
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May 29, 2024
Goldman Sachs Raises Over $20B For Direct Lending Strategy
Goldman Sachs Alternatives, advised by Fried Frank Harris Shriver & Jacobson LLP, revealed Wednesday that it clinched its latest senior direct lending fund after securing $13.1 billion from investors, and that together with other money raised for associated vehicles it has over $20 billion in fresh capital to put toward its direct lending strategy.
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May 29, 2024
Italian Airline's Chair Hits Back At €50M 'Revenge' Claim
The chair of Aeroitalia has urged a London court to throw out a €50 million ($54 million) claim over the Italian airline, arguing he had not agreed to transfer most of his stake in the business to a company claiming to have links with aviation magnate German Efromovich.
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May 29, 2024
HSF Guides £204M Pension Deal For Telcoms Biz Arqiva
Pension Insurance Corporation PLC said Wednesday it has completed a £204 million ($259.8 million) full buy-in of a retirement savings plan sponsored by telecommunications company Arqiva Ltd., in a deal guided by Herbert Smith Freehills LLP.
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May 29, 2024
Clifford Chance Guides L&G's £20M Nortel Pension Buyout
The U.K. pension liabilities of defunct Canadian telecom company Nortel Networks Corp., worth £2.5 billion ($3.2 billion), have now been offloaded fully to Legal & General Assurance Society Ltd., the insurer said Tuesday, after a final transaction steered by Travers Smith LLP, Pinsent Masons LLP, Hogan Lovells and Clifford Chance LLP.
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May 29, 2024
Hughes Hubbard Steers Publisher On $83M Acquisition Deal
Bloomsbury Publishing PLC said on Wednesday that it has purchased academic publishing business of Rowman & Littlefield, which is based in the U.S., for up to $83 million, advised by Hughes Hubbard & Reed LLP.