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September 30, 2024
Addleshaw Goddard-Led Supplement Co. Signals £500M IPO
Applied Nutrition Ltd. said on Monday it is planning to make an initial public offering on the London Stock Exchange, as the U.K. sports supplements maker eyes increasing its international presence in the booming health and wellness sector.
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September 30, 2024
Royal London Enters Pension Insurance Market
The Royal London Mutual Insurance Society Ltd. said Monday that it has officially entered the bulk purchase annuity market after it completed several smaller transactions.
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September 30, 2024
Cineworld Wins Court Approval For UK Restructuring Plan
Cineworld was granted approval for a U.K. restructuring plan on Monday as a judge concluded it was a better option than allowing the struggling cinema chain to fall into administration.
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September 30, 2024
Vodafone-Three Deal No Longer Requires Shareholder Nod
British telecom giant Vodafone said Monday that it no longer requires its shareholders to approve its proposed £16.5 billion ($21.7 billion) merger with Three UK, following the enforcing of the new listing rules in the U.K.
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September 30, 2024
Frasers Group Makes £83M Offer For Luxury Brand Mulberry
Mike Ashley's Frasers Group said Monday that it is making an £83 million ($111 million) proposed cash offer for Mulberry Group PLC, after the struggling British lifestyle brand blindsided it with plans to sell more shares to its majority shareholder.
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September 30, 2024
Home REIT Sells 200 Properties For £37M Amid Wind Down
Home Reit PLC said Monday it has sold 200 properties for a total of £36.9 million ($49.4 million), as the troubled real estate investor continues to clear its debts before it closes.
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September 30, 2024
Electrics Retailer Luceco Buys UK Rival For £30M
Luceco PLC said Monday it has bought workplace wiring appliance maker CMD Ltd. for £30 million ($49.4 million), as the U.K. trade and retail supplier of lights and electrical products looks to bolster its portfolio and boost profits.
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September 30, 2024
REA Pulls £6.2B Rightmove Bid After Board's Rejection
Rupert Murdoch's REA Group withdrew its £6.2 billion ($8.3 billion) potential bid for Rightmove PLC on Monday, hours before a deadline for making a firm offer, after the board of the British property business continued to reject its advances.
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September 29, 2024
Law Firm Mergers Stay High As Consolidators Press On
Merger activity in the British legal sector continued to recover in 2023 from the low levels seen two years earlier, partly driven by consolidator firms acquiring other practices, Hazlewoods LLP said on Monday.
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October 04, 2024
Clifford Chance Hires Ex-Sidley Restructuring Pro
Clifford Chance LLP has recruited a former restructuring partner at Sidley Austin LLP in Germany, amid high demand from clients for specialist advice in the face of challenging macroeconomic conditions.
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September 27, 2024
Advil Owner Haleon Paying $637M To Up Stake In China JV
British consumer healthcare giant Haleon plc said Friday that it has agreed to pay the equivalent of roughly $637 million to increase its stake in a Chinese joint venture, Tianjin TSKF Pharmaceutical Co., from 55% to 88%.
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September 27, 2024
Infrastructure Investor Sells Stake In US Assets For £30M
Infrastructure investment company International Public Partnerships said Friday that it has partially sold its investment in a public-private partnership housing scheme in the U.S., raising £30 million ($40 million) in the process.
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September 27, 2024
Real Estate Debt Investor To Launch £10M Share Buyback
Real Estate Credit Investments Ltd. said Friday it plans to roll out a share buyback of up to £10 million ($13.4 million) in a move expected to lower its outstanding share capital.
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September 27, 2024
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen Coca-Cola bring a trademark infringement claim against its former marketing director, Glencore face legal action by American Century ETF Trust, law firm Bishop Lloyd & Jackson defend itself against two solicitors it worked alongside during inquiries into Grenfell Tower, and a U.K. cruise line face a claim by a subsidiary of the sanctioned gambling platform GTLK.
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September 27, 2024
Abrdn Property To Sell £351M Portfolio To Travelodge Owner
Abrdn Property Income Trust said Friday that it has agreed to sell one of its subsidiaries that owns a portfolio of 39 properties to the owner of Travelodge for £351 million ($470 million) as it moves to a controlled wind-down.
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September 27, 2024
UK Tagging Biz To Reward Shareholders With £6M Buyback
Big Technologies PLC launched on Friday its debut share repurchase program worth up to £5.9 million ($7.9 million) aimed at rewarding shareholders, days after the people tagging business reported a dip in revenue.
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September 27, 2024
UK Drops Probe Into Amazon's $4B AI Investment
The Competition and Markets Authority dropped its formal probe on Friday into Amazon's $4 billion investment in Anthropic, a U.S. artificial intelligence startup, after it found that the companies do not hit thresholds for investigation in Britain.
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September 27, 2024
Murdoch's REA Group Logs 4th Offer For Rightmove At £6.2B
Rupert Murdoch's REA Group said Friday that it has tabled a fourth potential offer of £6.2 billion ($8.3 billion) for Rightmove PLC as the board of the British property business continues to refuse to engage with the publisher's real estate advertising company.
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September 26, 2024
VivoPower Keeps HQ In UK To Qualify For $21B Gov't Program
Sustainable energy solutions company VivoPower International PLC and hydrogen technology business Future Automotive Solutions and Technologies on Thursday outlined additional terms to their proposed $1.13 billion merger, including settling the combined company's headquarters in the U.K. in order to qualify for potential "significant and attractive" government incentives.
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September 26, 2024
Qualcomm Eyes Massive Buyout Of Intel, Plus Other Rumors
Qualcomm has approached struggling rival Intel with a takeover offer, Chevron's $53 billion acquisition proposal for Hess is expected to win regulatory clearance, and private Equity Firm BC Partners wants to buy a minority stake in EuroLeague. Here, Law360 breaks down these and other notable deal rumors from the past week.
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September 26, 2024
Swedish Retail Giant H&M Launches $100M Share Buyback
H&M kicked off a share buyback worth up to 1 billion Swedish kronor ($100 million) on Thursday as the Swedish retail giant looks to reward investors and lower its share capital.
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September 26, 2024
Sanctioned Billionaire Beats Claim Over $1B PhosAgro Stake
A Russian oligarch has lost his case accusing a former friend of unlawfully taking away his stake in a £3.7 billion ($5 billion) fertilizer business, as a London court found on Thursday that his claim to have been granted the share in a handshake agreement was implausible.
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September 26, 2024
Eversheds-Led Insurer Strikes 3rd Reinsurance Deal In UK
Global life insurance group Resolution Life said Thursday that it has completed its third reinsurance transaction in the U.K. in a deal guided by Eversheds Sutherland, bringing the total liabilities that it manages in the country to $3.5 billion.
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September 26, 2024
Tech Biz Touchstar Contemplates Sale Amid Falling Profits
Touchstar PLC said Thursday that its board has initiated a strategic review of the business to identify "the optimal path for future growth and value creation," which could include a potential sale of the London-listed industrial data collection technology company.
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September 26, 2024
Tereos Fined For Disclosure Failings During Merger Review
Britain's antitrust enforcer said Thursday that it has fined conglomerate Tereos for failing to provide information during its probe into the planned purchase of its U.K. business by food company Tate & Lyle.