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Transactions UK
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July 10, 2024
PE Biz TowerBrook Bids £253M For Payments Platform Co.
Private equity shop TowerBrook Capital Partners LP has made an improved cash offer of £253 million ($325 million) for Equals Group PLC, the British financial technology company said Wednesday after it put itself up for sale.
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July 10, 2024
Shein Investors Could Have Recourse If ESG Abuses Exposed
Expectations that the Shein fast-fashion group will float on the London Stock Exchange have raised questions over what recourse investors have to recoup losses in the English courts if a future emergence of human rights abuses in a company's supply chain triggers a drop in its share price.
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July 09, 2024
Labour Gov't Plans Investment-Boosting National Wealth Fund
The U.K. Treasury on Tuesday detailed plans to create a National Wealth Fund worth £7.3 billion ($9.3 billion) to boost private investment in energy and infrastructure, part of the new Labour government's plans to stimulate economic growth.
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July 09, 2024
Water Leak Remediation Biz Acquires Irish Firm For €2.3M
Water Intelligence PLC said Tuesday it has acquired Irish business Feakle Gas and Plumbing Ltd. through its subsidiary for €2.32 million ($2.97 million) cash, a move it anticipates will boost its footprint in Europe.
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July 09, 2024
LetterOne Fights National Security Sale Of Broadband Firm
An investment group backed by Russian oligarchs has launched the first legal challenge to a decision under the National Security and Investment Act, claiming on Tuesday that the government unfairly forced the sale of a regional broadband provider at a "substantial financial loss."
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July 16, 2024
Mayer Brown Hires Transactions Team From Ayache In Paris
Mayer Brown LLP said Tuesday that it has recruited a team of lawyers from an independent French law firm to boost its strength in international corporate and private equity transactions as it gears up for an upswing in deal activity.
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July 09, 2024
Simpson Thacher, Carey Olsen Steer Firm Eyeing $3B Deals
Turnaround business Rosebank Industries PLC said Tuesday it plans to buy businesses worth up to $3 billion after successfully raising funds as it looks to list in London, advised by Simpson Thacher & Bartlett LLP and Carey Olsen Jersey LLP.
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July 09, 2024
Dentons Steers Capita On £207M Software Biz Sale
Outsourcer Capita PLC said Tuesday that it has agreed to sell its subsidiary Capita One Ltd., which runs its standalone software business of the same name, to real estate software maker MRI Software LLC for £207 million ($265 million).
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July 09, 2024
Linklaters' Earnings Hit Record £2.1B On M&A Rebound
Linklaters LLP said on Tuesday that its earnings have surpassed the £2 billion ($2.6 billion) mark for the first time, which it attributed to a strategic focus on complex cross-border transactions and serving large clients worldwide.
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July 08, 2024
UK Clears Thermo Fisher's $3.1B Olink Buy
Britain's competition enforcer indicated Monday that it will not challenge Thermo Fisher Scientific Inc.'s planned $3.1 billion bid for Swedish biotech firm Olink Holding AB after the agency launched an initial investigation of the deal earlier this year.
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July 08, 2024
Wright Johnston-Led Macfarlane Buys Peer
Macfarlane said Monday that it has purchased industrial packaging maker Polyformes Ltd. for up to £11.5 million ($15 million) through one of its subsidiaries to boost its own protective packaging business, in a deal guided by Scottish law firm Wright Johnston & Mackenzie LLP.
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July 08, 2024
Linklaters-Led HgCapital Raises £24.3M In Software Biz Exit
British investment company HgCapital said Monday that its private equity arm Hg has agreed to sell its remaining interest in business software provider TeamSystem to U.S. private equity firm Hellman & Friedman, raising approximately £24.3 million ($31 million) for the trust.
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July 08, 2024
Aegon Begins €200M Share Buyback Program
Aegon NV began a share repurchase program worth up to €200 million ($220 million) on Monday, a move expected to lower the size of the Dutch pensions and insurance specialist's outstanding share capital.
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July 08, 2024
Norton Rose Helps Carlsberg Buy 40% Stake In Brewery JV
Carlsberg AS said Monday that it will buy the entire 40% stake in a U.K. brewing joint venture with British pub operator Marston's PLC for £206 million ($264 million) to integrate this with Britvic to form a brewery giant.
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July 08, 2024
Britvic Backs Sweetened £3.3B Carlsberg Takeover Offer
Britvic PLC said Monday that it is backing an improved £3.3 billion ($4.2 billion) cash takeover offer from Danish brewer Carlsberg AS that would create a British beer and soft drinks giant.
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July 05, 2024
EU Watchdog Sets Out Sustainability Reporting Expectations
The European Union's financial markets regulator on Friday set out its expectations on new sustainability reporting standards for large companies with shares listed on stock exchanges and their regulators.
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July 05, 2024
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen collapsed sports television company Arena Television hit Bank of Scotland and Lloyds Bank with a claim, James Vorley, the Deutsche Bank metals trader convicted of fraud, sue his former employer, and journalist John Ware file a defamation claim against Pink Floyd band member Roger Waters and Al Jazeera Media Network. Here, Law360 looks at these and other new claims in the U.K.
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July 05, 2024
Matrix KC Richard Hermer Tapped For Attorney General
Matrix Chambers' human rights barrister Richard Hermer KC will serve as the U.K.'s attorney general in a surprise appointment from newly-elected Prime Minister Keir Starmer late Friday.
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July 05, 2024
Cybersecurity Firm Noventiq Kills Plans To List Via SPAC Deal
London-based cybersecurity services provider Noventiq Holdings PLC and blank-check company Corner Growth Acquisition Corp. have canceled their plans to merge in a deal that sought to take Noventiq public in the U.S. at an estimated $1 billion value, citing market conditions.
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July 05, 2024
Shabana Mahmood Named Labour's New Justice Secretary
Prime Minister Keir Starmer named former barrister Shabana Mahmood as the Labour government's new justice secretary on Friday following a sweeping victory in the U.K. general election.
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July 05, 2024
A&O Shearman-Led GSK Signs €1.4B Deal For Vaccines
British pharma giant GlaxoSmithKline has amended its collaboration agreement with German biopharmaceutical company CureVac to acquire full rights to develop, manufacture and commercialize globally the candidate vaccines for influenza and COVID-19 in an approximately €1.4 billion ($1.5 billion) deal.
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July 05, 2024
Starmer Picks Reeves For Treasury To Steer Growth Aims
Prime Minister Keir Starmer has handed the reins of the U.K.'s fiscal and economic policy to Rachel Reeves, formally naming her as the next chancellor of the exchequer in the first of a round of cabinet appointments on Friday.
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July 05, 2024
Glencore Gets Canadian OK For $7B Buy Of Steelmaking Biz
Glencore PLC said Friday that Canada has given it the go ahead for its $6.93 billion acquisition of the steelmaking coal business of Teck Resources Ltd., clearing the final hurdle for the Anglo-Swiss commodities and mining giant.
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July 05, 2024
Starmer Starts Work As Cabinet Appointments Expected
Keir Starmer, the newly elected prime minister, promised change that focuses on the economy and wealth creation as he prepared on Friday to begin appointing cabinet ministers to form the Labour Party's first government since 2010.
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July 04, 2024
Labour Gov't To Prioritize Competitive Financial Regulation
The Labour government is expected to step up regulatory change to make the country's financial services more innovative and globally competitive, with centralized oversight of the watchdogs to ensure they help consumers and facilitate economic growth.