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Transactions UK
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February 14, 2025
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen Spice Girls star Mel B's ex-husband bring a defamation claim against the publisher of The Sun, a hotel sue a former director convicted of embezzling its funds for breach of fiduciary duty, and comedian Russell Brand face a sexual abuse claim. Here, Law360 looks at these and other new claims in the U.K.
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February 14, 2025
Gowling, Squire Patton Pilot £50M Pension Deal For Textile Biz
A German textiles company has offloaded £50 million ($63 million) of its U.K. pension liabilities to insurer Just Group PLC, advisers said Friday, in a deal steered by Gowling WLG and Squire Patton Boggs LLP.
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February 14, 2025
5 Questions For Spencer West Partner Karl Foster
The Financial Conduct Authority's approach to enforcement and consumer protection has come up against government economic growth priorities and resistance from the sector to its proposals to "name and shame" companies early on during regulatory probes.
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February 14, 2025
Addleshaw Goddard Leads £4M Fundraising For Genetics Biz
Preventive genetics business GENinCode said Friday that it has secured at least £4 million ($5 million) of £4.5 million in funding through a share placement and subscription, in a program led by Addleshaw Goddard LLP.
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February 14, 2025
Stephenson Harwood-Led Green Investment Trust To Wind Up
Jupiter Green Investment Trust PLC presented two options to its shareholders on Friday over its proposed liquidation and reconstruction after the environmental business investor was buffeted by long-term macroeconomic headwinds.
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February 14, 2025
Coca-Cola Bottler Refreshes Investors With €1B Buyback
Coca-Cola Europacific Partners PLC said Friday it will launch a share buyback program worth up to €1 billion ($1 billion) as the bottling business of the soft drink giant reported a financially fizzy year.
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February 14, 2025
Kirkland-Led Bain Buys Facilities Manager From PAI Partners
Private equity firm Bain Capital, which is being advised by Kirkland & Ellis LLP, will buy Apleona, a German facilities manager, from France's PAI Partners, the two companies said Friday.
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February 13, 2025
Musk's $97B OpenAI Bid Dubbed A 'Stunt' Amid Other Rumors
After a Wall Street Journal report on Monday revealed that a consortium of investors led by Elon Musk was offering $97.4 billion to buy the nonprofit that controls OpenAI, rumors began to swirl regarding the true intentions behind the billionaire's bid.
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February 13, 2025
Barclays Confirms £1B Share Buyback, Reports Profits Spike
Barclays PLC confirmed on Thursday that it plans to reward investors with a share buyback worth up to £1 billion ($1.25 billion) as it reported a 24% increase in pre-tax profit to £8.1 billion in the 2024 financial year.
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February 13, 2025
IT Biz Must Revisit $25M Earnout From Fixnetix Acquisition
A global information technology service company has been ordered to reevaluate a deferred payment of up to $25.7 million arising from its purchase of a trader, as a judge found Thursday that the sellers could challenge how some revenue streams were calculated.
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February 13, 2025
Unilever Starts €1.5B Buyback, Unveils Ice Cream Listing Plan
Unilever PLC on Thursday began a share buyback of up to €1.5 billion ($1.5 billion), as it announced plans to have Amsterdam as the primary listing of its ice-cream business and London and New York as secondary listings.
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February 13, 2025
Travers, Foley Lead Steve Madden On £289M Kurt Geiger Deal
U.S. footwear and accessories brand Steve Madden, guided by Travers Smith LLP and Foley & Lardner LLP, said Thursday that it plans to buy U.K. rival Kurt Geiger from a consortium led by the Cinven private equity group for £289 million ($361 million) to expand in international markets.
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February 13, 2025
Essity Faces Investors' Claim Over Chinese Tissue Biz Sale
A group of investment companies has sued Essity at a London court, alleging that the manufacturer of hygiene and health products defaulted on bond notes when it sold its controlling stake in a Chinese tissue company.
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February 13, 2025
Logistics Co. Ferrari Eyes €785M Market Cap In Dutch IPO
Ferrari Group PLC confirmed Thursday it has floated on the Euronext Amsterdam stock exchange, with the shipping and logistics business pricing its initial stock offering at €8.6 ($9) per share.
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February 13, 2025
UK Greenlights PE Biz's £840M Deal For Workplace E-Trainer
Workplace training provider Learning Technologies Group PLC said Thursday the U.K. government has approved its planned £836 million ($1 billion) sale to a subsidiary of private equity group General Atlantic.
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February 13, 2025
RELX Plans £1.5B Buyback Amid Revenue Growth
Information and analytics giant RELX PLC said Thursday that it will reward shareholders with £1.5 billion ($1.9 billion) over 2025 as it reported a 3% revenue jump amid growing demand for its AI-driven tools.
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February 12, 2025
Davis Polk Guides Irish Sensor Co. On $2.3B Stateside Buy
Davis Polk-led TE Connectivity PLC said Wednesday it has agreed to acquire Richards Manufacturing Co. from funds managed by Oaktree Capital Management LP and members of the Bier family, in an all-cash transaction valued at $2.3 billion.
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February 12, 2025
Homebuilder Barratt Redrow Kicks Off £50M Share Buyback
Barratt Redrow PLC launched a £50 million ($62 million) share buyback program on Wednesday, a move expected to lower the British homebuilder's outstanding share capital.
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February 12, 2025
Reading FC Owner Sues Buyer Over Unreturned Loan Security
The owner of Reading Football Club has sued a potential buyer of the League One club over a "continuing refusal" to return assets used to secure the outfit's sale, in the latest legal twist in litigation following the botched takeover deal.
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February 12, 2025
UK Clears £2.55B BlackRock Bid For Data Biz Preqin
The U.K.'s competition watchdog said Wednesday it has given the green light to asset management giant BlackRock's £2.55 billion ($3.16 billion) takeover of Preqin Ltd., a markets data provider based in London.
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February 12, 2025
Take-Private Deal For Retailer N Brown Completes
British retailer N Brown Group PLC said Wednesday that a £191 million ($238 million) deal pulling it off of London's Alternative Investment Market has completed.
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February 12, 2025
Fintech Asia To Complete £114M Takeover Deal
Fintech Asia Ltd. said Wednesday that it expects to complete the takeover of Asian financial services business ICFG Pte. for £114 million (£142 million) as part of a reverse takeover deal that stipulated Fintech Asia will be renamed ICFG Ltd. upon completion of the transaction.
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February 12, 2025
Gowling Steers £250M Pension Deal For Machinery Co.
A U.K. machinery dealership has passed £250 million ($311 million) of its pension liabilities to Standard Life, the insurer said Wednesday, in a deal advised by law firm Gowling WLG.
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February 12, 2025
Kirkland-Led Telecoms Biz To Sell Balkan Units For €1.5B
United Group BV said Wednesday it has agreed to sell two telecommunications companies in the Balkans for a combined total of €1.5 billion ($1.55 billion), as the Dutch media company refocuses on the European Union market.
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February 11, 2025
Fieldfisher, Ogier Guide Lithium Explorer On £2.4M Fundraise
CleanTech Lithium PLC, an explorer and developer focused on lithium projects, said Tuesday it has conditionally raised £2.4 million ($3 million) through selling shares to investors, advised by Fieldfisher LLP and Ogier.
Expert Analysis
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Decoding Arbitral Disputes: Equal Rights Limit State Immunity
The Court of Appeal of England and Wales' recent determination that Spain’s London embassy could not dodge a former U.K.-based employee’s discrimination claims by invoking sovereign immunity reaffirms its position that employment and human rights should come before the privileges of foreign powers, says Josep Galvez at 4-5 Gray’s Inn.
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How Proposed Private Share Trading System May Benefit Cos.
The government's proposal for a private securities and capital exchange system intends to enhance market practices and risk tolerances, offering a significant way for firms to free up liquidity by allowing investors to trade existing private company shares, say lawyers at Mishcon de Reya.
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Managing Transatlantic Antitrust Investigations And Litigation
As transatlantic competition regulators cooperate more closely and European antitrust investigations increasingly spark follow-up civil suits in the U.S., companies must understand how to simultaneously juggle high-stakes multigovernment investigations and manage the risks of expensive new claims across jurisdictions, say lawyers at Paul Weiss.
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What To Know As EU Urges Outbound Investment Reviews
A recent European Commission recommendation urges European Union member states to review outbound investments in certain critical technologies sectors, but does not clarify the next steps for states once information on relevant transactions in third countries is received, say lawyers at Cleary.
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Competition Act Brings Important UK Merger Control Changes
Although recently effective sections of the Digital Markets, Competition and Consumers Act provide clarity on the transactions that may attract Competition and Markets Authority attention, some reforms potentially expanding the regulator's scope may be concerning to transacting parties, say lawyers at Fried Frank.
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How GCs Can Protect Cos. From Geopolitical Headwinds
Geopolitical uncertainty is perceived by corporate leaders as the biggest short-term threat to global business, but many of the potential crises are navigable if general counsel focus on what is being said about a company and what the company is doing, says Juliet Young at Schillings.
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Key Points From FCA Financial Crime Guide Updates
The Financial Conduct Authority’s recent updates to its financial crime guide reflect the regulator’s learnings on sanctions following Russia's invasion of Ukraine, highlighting and clarifying consumer duty, anti-money laundering and other compliance expectations, say lawyers at Womble Bond.
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Tax Directive Marks Milestone In Harmonizing EU System
The Council of the European Union’s recently adopted tax directive is a significant step toward streamlining and modernizing procedures for member states, and will greatly reduce administrative burden and compliance costs for cross-border investors, says Martin Phelan at Simmons & Simmons.
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Decoding Arbitral Disputes: UK Awards Versus EU Judgments
The Court of Appeal of England and Wales' recent refusal to enforce a €855 million Spanish judgment inconsistent with earlier binding arbitral awards in England provides crucial guidance for practitioners navigating the complexities of cross-border disputes involving arbitration agreements and sovereign states, says Josep Galvez at 4-5 Gray's Inn.
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Insider Info Compliance Highlights From New FCA Guidance
The Financial Conduct Authority's recent guidance to companies on identifying inside information clarifies the regulator's expectation of case-by-case assessment, helpfully highlighting that abuse of U.K.-regulated markets can arise earlier than some might think, say lawyers at Sullivan & Cromwell.
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Key Points From EU's Latest FDI Screening Regulation Review
The European Commission’s recent assessment of the Foreign Direct Investment Screening Regulation indicates that with strong control here to stay, precautionary filings are likely to remain necessary, and member states should prepare for greater rule alignment to reduce inefficiencies caused by a current lack of synchronization, say lawyers at Linklaters.
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How Lawyers Can Work On Unmasking Beneficial Ownership
The Solicitors Regulation Authority's recent anti-money laundering report suggests that identifying ultimate beneficial owners in a transaction is one of the key day-to-day challenges that law firms face, and the solution lies in combining know-your-business processes with know-your-client verification, says Sam Ruback at Thirdfort.
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Anticipating The UK's Top M&A Trends In 2025
Conversations with market participants are focusing on five key questions about 2025's transactional markets, ranging from issues of artificial intelligence, to the boom in takeovers and increased regulatory scrutiny, says Layla D’Monte at King & Spalding.
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Businesses Should Expect A Role In Tackling Fraud Next Year
If one word sums up a key trend in financial crime enforcement in 2024, it would be fraud, as enforcement agencies clamped down on consumer-focused crime — and businesses will need to be prepared to play a part in 2025 with the coming of the "failure to prevent fraud" offense, says Jessica Parker at Corker Binning.
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Decoding Arbitral Disputes: Cross-Border Contract Lessons
A U.K. court's decision this month in Banco De Sabadell v. Cerberus provides critical lessons for practitioners involved in drafting and litigating cross-border investment agreements, and offers crucial insight into how English courts apply foreign law in complex cross-border disputes, says Josep Galvez at 4-5 Gray's Inn.