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Transactions UK
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July 29, 2024
LED Biz Dialight To Sell Traffic Unit To US Rival For $6M
LED lighting specialist Dialight said Monday that it has agreed to sell its traffic signal subsidiary to U.S. rival Leotek for $5.8 million to reduce debt and streamline its business.
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July 29, 2024
Ithaca's Eni Sites Deal Won't Need Shareholders' Approval
The £745 million ($955 million) acquisition by Ithaca Energy PLC of Eni assets no longer requires backing by shareholders as the U.K. overhaul of the Listing Rules came into force on Monday.
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July 26, 2024
Taxation With Representation: Wachtell, Polsinelli, Kirkland
In this week's Taxation With Representation, T-Mobile partners with KKR to acquire Metronet, Exclusive Networks gets a takeover offer, KKR buys Instructure Holdings Inc., and Bally's Corp. merges with The Queen Casino & Entertainment Inc.
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July 26, 2024
Linklaters Lights National Grid's £700M Sale Of Gas Stake
National Grid PLC on Friday confirmed it will sell its remaining 20% holding in the British gas network for approximately £700 million ($901 million) to a consortium of infrastructure investors, a deal advised by Linklaters LLP and White & Case LLP.
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July 26, 2024
Ellex-Led ERGO To Buy €80M Baltic Biz Of European Insurer
European insurance heavyweight ERGO Group has agreed to acquire Norwegian nonlife insurer Gjensidige Forsikring ASA's Lithuania-based subsidiary ADB Gjensidige for €80 million ($87 million).
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July 26, 2024
Linklaters-Led Masdar To Buy Spanish Solar Stake For €817M
Spanish multinational electric utility company Endesa said Friday that it has agreed to sell nearly half of its solar installations in Spain to Abu Dhabi Future Energy Co. for €817 million ($887 million), in a deal guided by Linklaters LLP and Ashurst LLP.
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August 02, 2024
Fieldfisher Adds Banking Litigation Pro From Hausfeld
Fieldfisher LLP has hired "the perfect" banking and finance litigation expert as a partner in its London office, as the firm moves to strengthen its financial practice both in the U.K. and abroad.
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July 26, 2024
Valderrama Golf Course Owner Heir Blocked From Sale Profits
The heir to the former owner of the Valderrama golf course in Spain lost his fight Friday for a slice of a €39.1 million ($42.5 million) sale as an appellate court rejected his interpretation of a profit-sharing agreement.
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July 26, 2024
FCA To Overhaul Prospectus Rules To Boost Capital Markets
The Financial Conduct Authority set out plans to shake up the U.K.'s prospectus regime Friday, including new rules for public offers and risk disclosures, to help boost the country's ailing capital markets.
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July 26, 2024
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen U.K. band The 1975 face action by Future Sound Asia after its performance in Malaysia resulted in a festival's cancelation, Spectrum Insurance hit by The Motoring Organization following their dispute over information misuse, and a former police constable pursue defamation against a colleague for allegedly instigating a campaign of harassment against her. Here, Law360 looks at these and other new claims in the U.K.
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July 26, 2024
Engineering Firm IMI Announces £100M Share Buyback
IMI PLC on Friday unveiled a £100 million ($129 million) share repurchase program and proposed a dividend boost as the British engineering firm reported improved profits.
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July 26, 2024
Legal Services Biz To Buy UK Regional Law Firm For £12.5M
Knights Group Holdings PLC said Friday that it has agreed to buy Thursfields Legal Ltd., an independent, full-service regional law firm, for £12.5 million ($16.1 million), as the growing legal and professional services company moves to expand its presence in central England.
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July 26, 2024
NatWest To Buy £2.5B Mortgage Portfolio From Metro Bank
NatWest will acquire a £2.5 billion ($3.2 billion) portfolio of U.K. residential mortgages from Metro Bank as it seeks to expand its retail book without taking on unnecessary risk, the lenders said on Friday.
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August 01, 2024
Bracewell Hires 11 Norton Rose Energy Attys In Paris Launch
Bracewell LLP said Thursday it has opened a new office in Paris with the hiring of an 11-lawyer team of energy and infrastructure specialists from Norton Rose Fulbright in a move to develop its legal services in France and in French-speaking countries in Africa.
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July 25, 2024
Deals Rumor Mill: Wiz-Google, Daily Telegraph, Medline IPO
Cybersecurity startup Wiz has rebuffed a buyout offer from Google, former British finance minister Nadhim Zahawi is preparing a $773 million bid for the Daily Telegraph, and medical supplies giant Medline is preparing an initial public offering for 2025. Here, Law360 breaks down these and other notable deal rumors from the past week.
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July 25, 2024
Audit Watchdog Sanctioned Firms £48M Last Year
The Financial Reporting Council revealed Thursday that it fined firms a total of £48.2 million ($62 million) in the financial year ended March 31, including a £21 million fine against auditor KPMG related to its accounting for construction giant Carillion prior to its collapse in 2018.
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July 25, 2024
Fintech Co. To Return £150M To Shareholders With Buyback
Global fintech company IG Group said Thursday that it will buy back up to £150 million ($193 million) of its shares over the next six months to return excess cash to its shareholders.
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July 25, 2024
BAE Systems' First Tranche Of £1.5B Buyback Takes Off
BAE Systems PLC on Thursday launched the first part of a new share repurchase program worth up to £1.5 billion ($1.9 billion) that the arms and aerospace giant said is aimed at lowering its outstanding share capital.
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July 25, 2024
Indivior Announces $100M Buyback To Trim Market Capital
Addiction treatment company Indivior PLC said Thursday that it plans to return $100 million to its shareholders in its latest share buyback program over the next six months to reduce the number of its shares in the market.
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July 25, 2024
Bird & Bird-Led Comms Biz Buys Rival For Up To £13M
Gamma Communications PLC said Thursday that it has bought call center technology specialist BrightCloud Group Ltd. in a transaction worth up to £13 million ($17 million), as the telecommunication services provider looks toward expansion in Europe.
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July 25, 2024
FCA Consumer Duty Deadline May Spark Clash With UK Gov't
The new Labour government and the Financial Conduct Authority could be heading for a clash over what constitutes a vulnerable consumer and how the laws protecting them from abuse should be enforced.
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July 24, 2024
London Tech Week Co. To Make £1.2B Bid For Lions Owner
British publisher and events company Informa PLC said Wednesday that it has offered to acquire exhibitions company Ascential PLC, which owns the Cannes Lions and Money20/20 brands, for approximately £1.2 billion ($1.5 billion) to expand its business-to-business events space.
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July 24, 2024
Outsourcer Mitie Doubles Share Buyback To £100M
Mitie Group PLC said Wednesday that it will extend its current £50 million ($65 million) share buyback program to £100 million after it posted strong financial results and showed positive momentum.
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July 24, 2024
US, British PE Firms Make €2.2B Offer For Cybersecurity Biz
Cybersecurity firm Exclusive Networks said Wednesday that it has been handed a takeover offer of approximately €2.2 billion ($2.4 billion) from a consortium made up of U.S. private equity firm Clayton Dubilier & Rice and its biggest shareholder, Permira.
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July 24, 2024
Grainger Acquires Manchester Real Estate For £31M
Grainger PLC said Wednesday it has bought 135 homes in a build-to-rent scheme in Manchester for £31 million ($40 million), as the U.K. property manager looks to bolster its high-quality apartment portfolio to meet growing demand.