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January 30, 2025
Growth Stocks Need Rule Changes, City Group Says
The government and regulators need to rewrite the rulebook for growth stocks in share trading, including an urgent review of "hampering" regulations like the Consumer Duty and "Dear CEO" letters, a leading City trade body said Thursday.
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January 30, 2025
Sidley, Mintz Guide Gene Biz Acquisition Worth Up To $7M
Cell therapy specialist MaxCyte said Thursday that it has bought gene editing company SeQure Dx in a deal worth up to $7 million as it seeks to strengthen its ability to help developers in the field from R&D to commercialization.
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January 30, 2025
Shell Announces $3.5B Buyback Despite Profit Fall
Shell PLC said Thursday that it will buy back $3.5 billion of its shares as the oil giant reported a 4% increase in its interim dividend despite reporting a dip in its earnings in the last quarter and full year 2024.
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January 30, 2025
Molson Coors Buys Stake In UK Mixer Biz Fevertree For £71M
Molson Coors said Thursday that it has bought an 8.5% stake in Fevertree, a British maker of tonic and mixers, for £71 million ($88 million), as the Canadian-American brewing giant seeks to diversify its portfolio and grow the brand in the U.S.
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January 30, 2025
Nelson Mullins-Led Serco Unit To Buy Defense Biz For $327M
Serco Group PLC said Thursday that a subsidiary has agreed to buy a defense software business from U.S. aerospace giant Northrop Grumman Corp. for $327 million, allowing it to tap into the "huge" sector as geopolitical tensions threaten to boil over.
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January 30, 2025
City Struggles With Compliance Amid Post-Brexit Rule Shifts
Brexit paved the way for Britain to rip up the EU's financial services rule book and create a more U.K.-friendly regime — but some regulatory analysts say the process is taking too long, which imposes a bigger compliance burden on companies.
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January 29, 2025
$7.8B ChampionX Deal Gets Added Scrutiny Across The Pond
SLB's path to closing its proposed $7.8 billion acquisition of ChampionX got a little trickier Wednesday as the U.K. Competition and Markets Authority launched a formal investigation into a deal that is also under the scrutiny of U.S. regulators.
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January 29, 2025
CMS Steers £1.4B Pension Deal For Pharma Co.
Legal & General said Tuesday that it has covered £1.4 billion ($1.7 billion) of pension liabilities for U.K. pharmaceutical company Aventis Pharma Ltd. to secure the benefits of all members of the retirement savings plan.
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January 29, 2025
Pensions Watchdog Backs Gov't Surplus Investment Plans
Britian's retirement savings watchdog has given its backing to proposals recently floated by the government that would relax rules to allow pension funds to invest billions of pounds tied up in surpluses.
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January 29, 2025
FCA Sets 1st Fine For Breach Of Transaction Reporting Rule
Infinox Capital Ltd. has been fined £99,200 ($123,240) for failing to submit transaction reports and risking market abuse going undetected, in the first action of its kind under the U.K. Markets in Financial Instruments Regulation, the Financial Conduct Authority reported Wednesday.
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January 29, 2025
Anglo American Completes $1B Sale Of Jellinbah
British multinational mining giant Anglo American PLC said Wednesday that it has completed the AU$1.6 billion ($1.1 billion) sale of its minority interest in an Australian coal mining joint venture to Zashvin Pty Ltd.
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January 29, 2025
Slaughter & May Steers Water Provider's £490M Rights Issue
Water utility company Pennon Group PLC said Wednesday that it has launched a rights issue worth up to £490 million ($609 million) to fund a major investment "step change" in U.K. infrastructure, after accepting the findings of a pricing review by regulator Ofwat.
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January 29, 2025
A&O Shearman Guides American Axle's £1.16B UK Biz Offer
British automotive group Dowlais has agreed to a £1.16 billion ($1.44 billion) cash and shares takeover by U.S. operator American Axle & Manufacturing, the companies said Wednesday, as they seek to create a global car parts manufacturer.
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January 29, 2025
French Tech Biz Sopra Steria Seals €150M Share Buyback
Sopra Steria Group SA said Wednesday it has completed ahead of time a €150 million ($156 million) share buyback program, which the French technology consultant will use to finance potential acquisitions in the digital services sector.
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January 28, 2025
TravelPerk Hits $2.7B Valuation, Announces Yokoy Buy
Spanish business travel platform TravelPerk, advised by Allen Overy Shearman Sterling, Wilson Sonsini Goodrich & Rosati PC and Lenz & Staehelin, on Tuesday announced that it hit a $2.7 billion valuation after closing its Series E funding round with $200 million of commitments, while also announcing its acquisition of European expense, invoice and card payment processing platform Yokoy.
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January 28, 2025
Wealth Manager Brooks Macdonald Begins £10M Buyback
Brooks Macdonald Group PLC on Tuesday rolled out an up to £10 million ($12.4 million) share repurchase program, as the wealth manager seeks to downsize its share capital.
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January 28, 2025
Gov't Floats Pension Reforms To Reinvest Surplus Funds
The U.K. government on Tuesday mapped out plans to relax pension fund rules to allow schemes to invest billions of pounds tied up in retirement plan surpluses in their own business or wider economy.
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January 28, 2025
Reading FC Owner Says Failed Buyer Seeks Forced Sale
The owner of Reading Football Club has told a court that he refused to sell the third-tier outfit to a potential buyer because of concerns about "continual changes" to the proposed terms for a takeover which has "caused some rancor."
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January 28, 2025
Cornish Metals To Raise £56M For Historic UK Tin Mine
Tin miner Cornish Metals Inc. said Tuesday that it is looking to raise at least £56 million ($70 million) in equity through offerings to resuscitate an historic mine in the southwestern English county of Cornwall.
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January 28, 2025
Danish Bank Launches $70M Share Buyback Program
Danish lender Ringkjoebing began on Tuesday a stock repurchase program worth up to 500 million Danish kroner ($70 million), a move that is expected to lower the size of its outstanding share capital.
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January 28, 2025
Mediobanca Rejects Monte Dei Paschi's €13.3B Bid
Italian investment bank Mediobanca SpA said Tuesday that it has rejected a €13.3 billion ($13.9 billion) takeover offer from Monte dei Paschi for being destructive to value for shareholders at both lenders.
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January 28, 2025
Slaughter & May-Led JV To Buy 6 Warehouses Worth €470M
Property investor Segro PLC said Tuesday that its joint venture with a pension fund has agreed to acquire six logistics centers in the Netherlands and Germany worth €470 million ($490 million), as the U.K. company plans to expand its presence in Europe.
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January 27, 2025
Clyde & Co.-Led Abu Dhabi Biz Bids £100M For Good Energy
Renewable energy provider Good Energy Group PLC said Monday that it has agreed to be acquired by UAE-based energy transition company Esyasoft for approximately £99.4 million ($124 million) in a deal guided by Clyde & Co LLP and Norton Rose Fulbright.
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January 27, 2025
Royal London Hits Back In £27M Company Sale Row
Mutual insurance and investment firm Royal London has denied that it breached any warranties during the sale of a company to M&G and that it does not owe at least £27 million ($33.7 million) claimed by the asset manager.
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January 27, 2025
Former Construction Execs Sued For £1.4M Over Rival Biz
Three subsidiaries of a construction testing company have sued the former directors of a firm it acquired for allegedly breaching the terms of the sale by setting up a competing business and poaching clients.