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Transactions UK
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October 02, 2024
Investors Get Another Extension For £253M Payments Co. Bid
Britain's mergers and acquisitions authority has again given a group of investment companies more time to make a firm offer of £253 million ($336 million) for Equals Group, the payments technology company said on Wednesday.
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October 01, 2024
Willis Towers Watson Inks $632M Sale Of Tranzact To PE Firms
Insurance company Willis Towers Watson Plc, advised by Weil Gotshal & Manges LLP, on Tuesday announced that it is divesting its direct-to-consumer insurance distribution business Tranzact and selling it to Kirkland & Ellis LLP-advised private equity firm GTCR and Willkie Farr & Gallagher LLP-led technology services investment platform Recognize for $632.4 million.
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October 01, 2024
Monthly Merger Review Snapshot
European enforcers saw a key merger policy cut down by the bloc's high court, while Kroger and Albertsons defended their planned $24.6 billion grocery store mega-merger from challenges in multiple venues, and the Federal Trade Commission pushed a bid to block a merger between the owners of Coach and Michael Kors.
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October 01, 2024
Investors Settle Wirecard Fraud Case With Transfer Provider
Two businessmen have settled claims worth €33 million ($36.5 million) brought by investors who alleged the pair duped them into selling their stake in a money transfer provider for a pittance before the company was sold on to payments giant Wirecard for many times the price.
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October 01, 2024
Financial Services Biz Tavistock To Sell Advice Units For £38M
British financial services group Tavistock Investments said Tuesday that it has agreed to sell two of its subsidiaries to wealth management firm Saltus Partnership Holdings LLP for up to £37.75 million ($50.2 million).
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October 01, 2024
Pension Insurance Deal Market To Hit £60B In 2025
The total value of pension insurance transactions could hit £60 billion ($79.6 billion) for the first time next year, according to a poll of lawyers, trustees and others in the retirement sector published on Tuesday.
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October 01, 2024
UK Packing Biz Plans Fundraising For €56M Takeover Deal
Mpac Group PLC on Tuesday proposed a fundraising program to partly back its conditional purchase of a Dutch palleting technology company for €56 million ($62 million), a move the British packaging company believes will bolster its offering.
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October 01, 2024
UK Cloud Tech Biz Iomart To Buy Rival For £57M
Cloud computing company Iomart Group PLC said Tuesday it has agreed to buy Atech, a provider of Microsoft technology to businesses, for £57 million ($76 million) to bolster the group's position in the U.K.'s workplace technology sector.
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October 01, 2024
Pfizer Sells £2.4B Of Shares In Advil Owner Haleon
Pharmaceuticals titan Pfizer Inc. said Tuesday that it has reduced its stake in Haleon PLC, a maker of oral health products, by selling its shares to investors and raising approximately £2.43 billion ($3.24 billion) in the process.
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October 01, 2024
Insurance Consolidator PIB Group Buys UK Broker
PIB Group Ltd. said it has bought RS Insurance Brokers Ltd., as the insurance acquisition vehicle seeks to boost its presence in the sector with a "burgeoning" portfolio of specialisms across the U.K. and Europe.
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October 01, 2024
4 Firms Guide Partners Group In €6.7B Sale Of German Biz
Swiss private equity shop Partners Group said Tuesday that it is selling its stake in a German digital energy metering business to Texas-based TPG and Singapore's sovereign wealth fund for approximately €6.7 billion ($7.4 billion).
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October 01, 2024
Mulberry Turns Down £83M Takeover Offer From UK's Frasers
Mulberry's board said Tuesday that it has rejected a buyout bid from retail giant Frasers, which values the handbag maker at £83 million ($111 million), because it fails to recognize its "substantial future potential value."
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October 01, 2024
Freshfields Guides Abu Dhabi Oil In €14.7B German Bid
Abu Dhabi's state-owned oil company said Tuesday that it will buy a German chemicals producer, Covestro AG, in a €14.7 billion ($16.3 billion) deal as the Gulf state seeks to lower its dependence on oil amid the transition to green energy.
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September 30, 2024
Chancery Sidelines Squarespace Merger Doc Suit For Now
A Delaware Court of Chancery action to compel stockholder access to website builder Squarespace Inc.'s corporate records remained under a stay Monday, after a court finding that the suit aimed to preserve future review rights focused on a proposed $7.2 billion company take-private deal.
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September 30, 2024
Activist Investor Urges Basic-Fit Gym Operator To Sell
Buckley Capital Management LLC made an appeal to the board of Basic-Fit NV on Monday recommending that the company undergo a strategic review with the intention of selling the business and going private.
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September 30, 2024
Addleshaw Goddard-Led Supplement Co. Signals £500M IPO
Applied Nutrition Ltd. said on Monday it is planning to make an initial public offering on the London Stock Exchange, as the U.K. sports supplements maker eyes increasing its international presence in the booming health and wellness sector.
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September 30, 2024
Royal London Enters Pension Insurance Market
The Royal London Mutual Insurance Society Ltd. said Monday that it has officially entered the bulk purchase annuity market after it completed several smaller transactions.
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September 30, 2024
Cineworld Wins Court Approval For UK Restructuring Plan
Cineworld was granted approval for a U.K. restructuring plan on Monday as a judge concluded it was a better option than allowing the struggling cinema chain to fall into administration.
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September 30, 2024
Vodafone-Three Deal No Longer Requires Shareholder Nod
British telecom giant Vodafone said Monday that it no longer requires its shareholders to approve its proposed £16.5 billion ($21.7 billion) merger with Three UK, following the enforcing of the new listing rules in the U.K.
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September 30, 2024
Frasers Group Makes £83M Offer For Luxury Brand Mulberry
Mike Ashley's Frasers Group said Monday that it is making an £83 million ($111 million) proposed cash offer for Mulberry Group PLC, after the struggling British lifestyle brand blindsided it with plans to sell more shares to its majority shareholder.
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September 30, 2024
Home REIT Sells 200 Properties For £37M Amid Wind Down
Home Reit PLC said Monday it has sold 200 properties for a total of £36.9 million ($49.4 million), as the troubled real estate investor continues to clear its debts before it closes.
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September 30, 2024
Electrics Retailer Luceco Buys UK Rival For £30M
Luceco PLC said Monday it has bought workplace wiring appliance maker CMD Ltd. for £30 million ($49.4 million), as the U.K. trade and retail supplier of lights and electrical products looks to bolster its portfolio and boost profits.
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September 30, 2024
REA Pulls £6.2B Rightmove Bid After Board's Rejection
Rupert Murdoch's REA Group withdrew its £6.2 billion ($8.3 billion) potential bid for Rightmove PLC on Monday, hours before a deadline for making a firm offer, after the board of the British property business continued to reject its advances.
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September 29, 2024
Law Firm Mergers Stay High As Consolidators Press On
Merger activity in the British legal sector continued to recover in 2023 from the low levels seen two years earlier, partly driven by consolidator firms acquiring other practices, Hazlewoods LLP said on Monday.
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October 04, 2024
Clifford Chance Hires Ex-Sidley Restructuring Pro
Clifford Chance LLP has recruited a former restructuring partner at Sidley Austin LLP in Germany, amid high demand from clients for specialist advice in the face of challenging macroeconomic conditions.