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Transactions UK
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June 18, 2024
Ex-Yukos Oil Investors Auction Russian Vodka TMs For €1.6M
The former shareholders of Yukos Oil Co. said Monday they have auctioned the Benelux rights to trademarks for 18 Russian vodka brands, including Stolichnaya and Moskovskaya, as they continue their effort to enforce $50 billion in arbitral awards against Russia.
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June 18, 2024
Regulator Reminds Merging Firms To Put Clients First
The regulator for solicitors in England and Wales on Tuesday issued a new warning notice, reminding law firms that their clients' interests must be the top priority during legal industry mergers and acquisitions.
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June 18, 2024
Hargreaves Lansdown Backs £5.4B CVC, Abu Dhabi Bid
The board of Hargreaves Lansdown PLC said Tuesday that it would be willing to recommend to its shareholders a sweetened £5.4 billion ($6.9 billion) takeover offer from a consortium of private equity companies, including CVC and the sovereign wealth fund of Abu Dhabi.
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June 18, 2024
Frasers Group To Buy Back Up To £80M Worth Of Shares
Frasers Group PLC on Tuesday commenced a share repurchase program worth up to £80 million ($101 million), a move expected to lower the size of the retail giant's outstanding share capital.
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June 18, 2024
STG Partners' Bid For Gresham Wins Regulatory Approvals
Gresham Technologies PLC said Tuesday that an attempt by U.S. private equity firm STG Partners LLC to buy the U.K.-based software business for £146.7 million ($186 million) has received a boost by gaining regulatory clearances.
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June 18, 2024
Burges Salmon Leads London Flotation Of US Meditech Biz
AOTI Inc. said on Tuesday that it has raised £35.1 million ($45 million) on its debut on the London stock market, which the U.S. medical technology group will use to expand the company and pay back debt.
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June 18, 2024
US Power-Supply Toolmaker Pulls £571M Bid For Rival
Advanced Energy Industries Inc. said on Tuesday that it will not make a £571 million ($724 million) offer for XP Power Ltd. of Singapore, after its rival power supplies maker rejected its approach.
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June 17, 2024
Judge Axes Ex-Stobart CEO's Conspiracy Claim
Allowing Stobart Group's former chief executive to reargue that he was the victim of a conspiracy to remove him as chair would be "an abuse of process," a London court ruled Monday as it struck out his claim against the company and five of its directors.
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June 17, 2024
Hygiene Products Biz Essity Announces $285M Buyback
Hygiene and health products maker Essity kicked off a scheme to repurchase its class B shares worth up to 3 billion Swedish kroner ($285 million) on Monday in a move expected to lower its outstanding share capital.
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June 17, 2024
Investment Co. Infortar To Make €388M Offer For Shipper
AS Infortar said Monday it will bid €388 million ($415.8 million) to buy out AS Tallink, a Baltic Sea shipper, as the Estonian private investor looks to increase its stake in the company despite the northern European country's troubled economy.
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June 17, 2024
Smoke Alarm Co. Gains Control Of UK Rival In £28M Deal
FireAngel said Monday that a Singapore-based home security company owned by alarm sensor specialist Siterwell Electronics Co. Ltd. has received the required shareholder backing from FireAngel shareholders for the acquisition of the U.K. maker of smoke and carbon monoxide detectors.
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June 17, 2024
White & Case-Led Ukraine Seeks Debt Relief By Aug. Deadline
The Ukraine government, advised by White & Case LLP, appealed on Monday to bondholders to help restructure its $19.5 billion of eurobond debt before a payments freeze it agreed with international creditors expires on Aug. 1.
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June 17, 2024
Hikma Pharma To Buy Rival's Injectable Biz For $135M
Hikma said on Monday it has agreed to buy units of Xellia, a Danish provider of anti-infective treatments and critical care therapies, for up to $185 million, as the U.K. pharmaceutical giant eyes growing its range of injectable drugs.
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June 17, 2024
Finnish Insurer Sampo Makes $4.7B Offer For Topdanmark
Finnish insurance group Sampo PLC said Monday that it will buy the remaining shares in Topdanmark that it does not own in a deal that values the Danish insurer at $4.7 billion.
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June 14, 2024
France Offers $750M For Atos' Cyber, Data Assets
Information technology firm Atos SE said Friday that it has received a nonbinding offer from the French government to buy certain big data and cybersecurity operations at an enterprise value of €700 million ($750 million).
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June 14, 2024
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen toy company Jellycat hit supermarket Aldi with an intellectual property claim, AIG start proceedings against firefighting foam company Angus International Safety Group, and the Solicitors Regulation Authority file a legal claim against the Post Office amid the ongoing Horizon IT scandal. Here, Law360 looks at these and other new claims in the U.K.
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June 14, 2024
New Entrant Expected In Pension Transfer Market, LCP Says
Lane Clark & Peacock LLP said that another new insurer will enter the pension transfer market by the end of the year, bringing the total number of companies securing the liabilities of retirement savings plans to a record high.
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June 14, 2024
Labour Eyes Flexible Financial Regulation To Spur Growth
The Labour Party prioritized financial services growth this week as it eyes Downing Street, suggesting a new era of more flexible regulation to drive technological innovation and competitiveness, regulatory lawyers say.
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June 14, 2024
UK Opens Probe Into Barratt's £2.5B Redrow Acquisition
Britain's antitrust regulator has launched a formal probe into whether Barratt Developments PLC's £2.5 billion ($3.1 billion) all-share deal for rival homebuilder Redrow PLC could harm competition in U.K. markets, according to a statement published Friday on the London Stock Exchange.
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June 14, 2024
Malaysian Oil Biz Hibiscus Buys TotalEnergies Unit For $259M
Kuala Lumpur-based oil and gas producer Hibiscus Petroleum Berhad said it has agreed to buy a Brunei subsidiary of France's TotalEnergie for $259 million, advised by Malaysian law firm Murad Yee Partnership.
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June 14, 2024
EQT Extends £2B Offer Deadline For Video Gaming Biz
Keywords Studios said Friday that Swiss private equity firm EQT has been granted extra time to make a £2 billion ($2.5 billion) offer after the Irish gaming services group indicated that it could back the deal.
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June 14, 2024
Housebuilder Crest Nicholson Rejects £650M Bellway Bid
British homebuilder Crest Nicholson said Friday that it has rejected a proposed £650 million ($826 million) offer from rival Bellway, saying that it significantly undervalued the company and its prospects.
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June 13, 2024
JP Morgan Had No Incentive To Devalue Fintech Joint Venture
J.P. Morgan had no reason to devalue a payment company it co-owned with fintech business Werealize, a London judge ruled Thursday, in a decision that ended the companies' dispute over the investment bank's option to buy out its partner's stake in their joint venture.
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June 13, 2024
Deals Rumor Mill: Paramount, Cineworld, Kraken IPO
Media executive Edgar Bronfman Jr. has expressed interest in buying the company that controls Paramount Global, British cinema giant Cineworld may sell certain U.K. operations, and cryptocurrency exchange Kraken is considering a funding round of about $100 million before a potential initial public offering. Here, Law360 breaks down these and other notable deal rumors from the past week.
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June 13, 2024
How 3 Firms Cleared 2 Ex-Autonomy Execs In HP Fraud Case
A California federal jury's rejection last week of fraud charges against the founder and former finance vice president of British software company Autonomy validated an approach by the defendants' three law firms — Steptoe, Clifford Chance and Bird Marella — to form a "seamless" collaboration throughout the trial, from jury selection to closing arguments.