Transactions UK

  • June 24, 2024

    Prudential Launches First Tranche Of $2B Buyback Program

    Insurer and asset manager Prudential PLC has commenced an initial $700 million share buyback program, the first phase of a wider up to $2 billion repurchase scheme, advised by Slaughter and May.

  • June 24, 2024

    Supreme Buys Clearly Drinks Co. From PE For £15M

    Supreme PLC said Monday it has bought drinks company Clearly owner Acorn Topco Ltd. for £15 million ($19 million) using its cash reserves from private equity firm NorthEdge Capital LLP, as the U.K. wholesaler looks to broaden its range of products.

  • June 24, 2024

    Freshfields-Led Packager Sonoco Buying Eviosys For $3.9B

    Hartsville, South Carolina-based packaging firm Sonoco Products Co. said Monday it has agreed to buy European food can maker Eviosys from private equity firm KPS Capital Partners for about $3.9 billion.

  • June 24, 2024

    CMS-Led Aareal Bank To Sell Unit To TPG For €3.9B

    German lender Aareal Bank AG and investment company Advent International said Monday that they have agreed to sell a property management and maintenance software company to U.S. private equity firm TPG and Canada's CDPQ for approximately €3.9 billion ($4.2 billion).

  • June 24, 2024

    UK WWII Tourist Biz Tunnels Its Way To Amsterdam For IPO

    The London Tunnels PLC said Monday that it plans to raise £30 million ($38 million) and list in Amsterdam, in the latest snub to the London Stock Exchange.

  • June 24, 2024

    Insurer Files For Liquidation, To Sell Unit To Rival For £11.3M

    Troubled insurer R&Q said Monday that it has agreed to sell Inceptum Insurance for £11.25 million ($14.25 million) to Marco Capital Holdings Ltd., a Malta-based legacy acquisition group, after filing for liquidation.

  • June 24, 2024

    PepsiCo Green Lights Carlsberg's £3.1B Britvic Takeover Bid

    Danish brewer Carlsberg AS said Monday that PepsiCo Inc. has effectively backed its £3.1 billion ($3.9 billion) takeover bid for Britvic PLC by agreeing not to end a bottling agreement with the British soft drinks maker if the deal progresses.

  • June 21, 2024

    Taxation With Representation: Travers Smith, Potamitis Vekris

    In this week's Taxation With Representation, RSK Group Ltd. gets a £500 million ($632 million) investment, Boston Scientific Corp. acquires Silk Road Medical Inc., Masdar takes a part of Terna Energy SA, and Tate & Lyle PLC buys CP Kelco from JM Huber Corp.

  • June 21, 2024

    UK Litigation Roundup: Here's What You Missed In London

    This past week in London has seen JD Wetherspoon sue a Welsh pub over its name in the Intellectual Property Court, ex-professional boxer Amir Khan and his wife file libel action against an influencer, the Performing Right Society hit with a competition claim over music licensing, and Manolete Partners bring action against the directors of a bust investment firm. Here, Law360 looks at these and other new claims in the U.K.

  • June 21, 2024

    European Funds Want Laxer Rules On Derivatives Calls

    A European investment fund industry trade body has called for a reduction in proposed global rules to manage calls for extra money supporting derivatives positions intended to reduce the risk of a market crisis.

  • June 21, 2024

    Caterer Compass Kicks Off Second $250M Share Buyback

    Compass Group PLC on Friday commenced an up to $250 million share repurchase program, the second and final part of a wider $500 million buyback scheme aimed at lowering the catering giant's outstanding share capital.

  • June 21, 2024

    Swiss-Dutch Pharma Biz Raises €80M For Cancer Drug Work

    iOnctura BV has raised €80 million ($85.5 million) in a new round of financing, which the Swiss-Dutch biopharmaceutical company will use to continue developing two anti-cancer drugs.

  • June 21, 2024

    Linklaters-Led Britvic Snubs Improved £3.1B Carlsberg Offer

    Britvic PLC said Friday that it has rejected a sweetened £3.1 billion ($3.9 billion) takeover offer from Danish brewer Carlsberg AS, claiming the proposal undervalues the current and future prospects of the British soft drinks maker.

  • June 20, 2024

    Energy Co. To Sell Egypt, Italy & Croatia Portfolios For $945M

    Mediterranean-focused oil and gas producer Energean PLC said Thursday it has agreed to sell its assets in Egypt, Italy and Croatia to private equity fund Carlyle International Energy Partners for up to $945 million.

  • June 20, 2024

    Law Firm Disputes Pension Deal Capacity Concerns

    Most small retirement savings plans have little trouble carrying out an insurance transaction, a law firm has found, despite fears of a capacity crunch in the pensions deals market.

  • June 20, 2024

    Tate & Lyle Launches £215M Share Buyback Program

    Tate & Lyle PLC on Thursday rolled out a share repurchase program worth up to £215 million ($273 million) aimed at lowering the size of its outstanding share capital.

  • June 20, 2024

    Linklaters Guides Tate & Lyle On $1.8B CP Kelco Deal

    Food producer Tate & Lyle PLC said Thursday that it will buy U.S. nature-based ingredients maker CP Kelco from industrial products producer JM Huber Corp. in a cash and share deal worth $1.8 billion, to tap into the trend toward plant-based and clean ingredients.

  • June 20, 2024

    A&O Shearman-Led Bridgepoint Makes £626M Offer For Rival

    Alpha Financial Markets Consulting Ltd. said Thursday that a company controlled by asset fund manager Bridgepoint Advisers is weighing a £578 million ($734 million) takeover and that it would recommend that to shareholders if it makes a formal bid.

  • June 20, 2024

    Sainsbury's To Pay NatWest £125M To Exit Bank Unit

    Sainsbury's will pay NatWest approximately £125 million ($159 million) to take on most of the personal banking assets of the U.K. retail giant, the companies said Thursday, as grocers look to exit the consumer banking market.

  • June 19, 2024

    Trade Body Sets Up Committee For M&A Insurance Market

    A trade body for underwriters said Wednesday that it has launched a committee on specialist insurance to cover risk associated with mergers and acquisitions, amid a surge in such policies being written from London.

  • June 19, 2024

    GE Aerospace To Quit 3 European Stock Exchanges

    General Electric Co. said Wednesday that it plans to end its listing on the London, Paris and Zurich stock exchanges following an internal review after it launched after it became a standalone company.

  • June 19, 2024

    Investors Sell £43M Worth Of Helios Telecoms Shares

    Helios Towers PLC said Wednesday that two stakeholders, private equity firm Newlight Partners LP and investment trust RIT Capital Partners PLC, have sold a total of £43.2 million ($55 million) of stock in the telecommunications company, which operates in Africa and the Middle East.

  • June 19, 2024

    DLA Piper, Florent Steer €30M Capital Raise For Pipeline Biz

    Investor HydrogenOne Capital Growth PLC said on Wednesday that hydrogen pipeline maker Strohm Holding BV, has raised €30 million ($32 million) in new funds, in a deal advised by DLA Piper and Dutch law firm Florent.

  • June 19, 2024

    Vodafone Sells 18% Stake In Indian Cell Tower Biz For $1.8B

    Vodafone Group PLC said on Wednesday that it has sold an 18% stake in Indus Towers Ltd. of India for 153 billion rupees ($1.83 billion) as the U.K. telecommunications giant looks to finance its debt repayments.

  • June 19, 2024

    Swiss Watchdog Ends UBS-Credit Suisse Merger Controls

    Switzerland's financial watchdog said Wednesday that it has cleared the takeover by UBS of stricken rival Credit Suisse AG after finding that the rescue deal would not harm competition in any domestic market.

Expert Analysis

  • Warranty & Indemnity Insurance Considerations For M&A

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    With increased competition and greater capacity leading to lower premiums and deal costs, warranty and indemnity insurance is now available to the wider M&A market, and may help to limit risk and help parties focus on other key elements of the transaction, says Alice Wooler at Birketts.

  • What The Dignity Takeover Deal Says About M&A Trends

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    While some public companies may prefer to go private to maximize company growth and shareholder returns, there are potential pitfalls and in the current uncertain economic climate pairing up between private equity and public entities is likely to increase, as evidenced by the recent Dignity takeover deal, says James Lyons at Lawrence Stephens.

  • How Geopolitical Change Is Affecting M&A Activity In Europe

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    Several factors are leading businesses to divest from Russia and invest in central and Eastern European EU member states, with particular sectors attractive to U.K. companies and certain trends in M&A transactional activity emerging, says Oksana Howard at Colman Coyle.

  • Discovery Blocking Reform Better Protects French Companies

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    The 2022 reforms to France's 1968 blocking statute gives French companies more tools to resist abusive discovery requests from foreign competitors and public agencies, but France should do more to defend confidential information and assert its sovereignty, says Raphael Gauvain at Betto Perben.

  • A Look At New Vertical Laws, Their Opportunities And Pitfalls

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    Looking at trends that have gained the most traction under the new vertical laws in the EU and U.K., it is clear that brands should use the transition period wisely, ensuring that lessons have been learned on what to avoid and that go-to-market strategies are future-proof, say attorneys at K&L Gates.

  • Why 2023 Could Be The Year Of The Restructuring Plan

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    As U.K. businesses face a challenging economic environment going into 2023, the stage may be set for a rise in restructuring plans, with early signs such as an increasing body of case law, the pragmatic approach taken by the judiciary to date and the cross-class cramdown mechanism, say Rachael Markham and Charlotte Møller at Squire Patton.

  • How Mur Ruling May Affect Force Majeure Considerations

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    The recent U.K. Court of Appeal decision in Mur Shipping v. RTI demonstrates that exercising reasonable endeavors can include payment in an alternative currency to overcome a force majeure event, and is topical for contracting parties in light of Russia-related sanctions, say attorneys at Debevoise.

  • ECJ Fiat Ruling Sets Clear Boundaries For EU State Aid Law

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    The European Court of Justice's recent landmark decision in Fiat v. Commission limiting the commission’s attempts to circumvent the lack of EU powers in the area of tax law has important implications in EU state aid law and beyond, say Andreas Reindl and Pietro Stella at Van Bael.

  • Cos. Can Expect Intense Antitrust Enforcement This Year

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    In 2023, authorities in the U.K. and Europe are expected to push the boundaries of antitrust enforcement, merger control and foreign investment screening with the goal of achieving positive outcomes for consumers, say Nicole Kar and Tara Rudra at Linklaters.

  • Foreign Direct Investment Considerations For Buyers, Sellers

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    The rapidly developing legal and regulatory foreign direct investment landscape means the challenge for deal makers is in navigating the continuously changing rules and understanding the manner in which regulators interpret them, says Kurt Ma at BCLP.

  • Widely Forecast UK Recession Is Likely To Reshape M&As

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    Despite the economic downturn in the U.K., transactions will continue to get done in 2023, albeit with more complex terms and a greater focus on undertaking vigorous due diligence on customer relationships and contracts, say attorneys at Skadden.

  • Czech Z-Trade Ruling Shows Benefit Of Compliance Program

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    With its recent Z-Trade fine reduction decision, the Czech Office for the Protection of Competition has for the first time put into practice its compliance program consideration policy, providing a further incentive for companies to implement such programs and underlining the office's intention to pay attention to them, say Vojtech Chloupek and Martin Taimr at Bird & Bird.

  • Lessons That May Be Learned From The Demise Of Made.com

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    With Made.com going into administration, companies that may face similar challenges should take on board that the earlier adequate preemptive planning is considered, the more financial and legal options there will be to avoid last minute firefighting and to focus instead on strengthening the business, says Eleni Michaela at Faegre Drinker.

  • Link Ruling Shows FCA's Wide Change-In-Control Powers

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    The Financial Conduct Authority's recent decision regarding the proposed acquisition of Link Fund Solutions is a reminder that the regulator has significant powers to attach conditions to its approvals and the advent of the Financial Services and Markets Bill could lead to the widening of those powers, say Charlotte Hill and Daniel Hirschfield at Taylor Wessing.

  • Takeaways For Transaction Parties After UK Acquisition Block

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    The U.K. government recently used its retrospective powers under the National Security and Investment Act for the first time to block Nexperia’s acquisition of Newport Wafer Fab, highlighting the considerations that parties have to evaluate when contemplating transactions in high-risk areas, say attorneys at Arnold & Porter.

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