Transactions UK

March 27, 2024
Clifford Chance Helps Italy Sell 12.5% Of Monte Dei Paschi

Italy has sold 12.5% of the shares in Monte dei Paschi for €650 million ($704 million) in total, to reduce its 2017 bail-out holding in the Italian lender said to be the world's oldest bank.
March 27, 2024
Skadden Steers Int'l Paper's £5.7B Bid For DS Smith

International Paper Co. has made a £5.72 billion ($7.22 billion) proposed offer for British rival DS Smith PLC as it seeks to compete with the earlier bid of £5.1 billion made by Mondi PLC.
March 26, 2024
Pet Drug Maker Faces EU Probe For Axing Pipeline Dog Med

The European Union's antitrust authority said Tuesday it has launched a probe into whether Zoetis Inc. had illegally blocked competition by acquiring a pipeline product designed to treat pain in dogs and axing a potential rival's deal to sell it.
March 26, 2024
Platinum Miner Tharisa Launches $5M Share Buyback

Southern African-focused Tharisa PLC on Tuesday began a share repurchase program worth up to $5 million, amid concerns its stock is undervalued on the markets.
March 26, 2024
Carrefour Buying €365M Of Its Shares From Store Owner

Hypermarkets giant Carrefour said on Tuesday that it will buy back almost 3.5% of its share capital from the owner of the Galeries Lafayette department store chain for €365 million ($396 million), part of its wider €700 million share repurchase program.
March 26, 2024
Insurance Execs Deny BDO Found Buyer For £18.5M Sale

Directors of KGJ Insurance Services have denied owing advisory fees to BDO LLP following the sale of the insurance broker for an estimated £18.5 million ($23.4 million), claiming that BDO never proposed or introduced the buyer itself.
March 26, 2024
Engineering Biz Smiths Kicks Off £100M Buyback Program

Smiths Group PLC on Tuesday began the first half of a £100 million ($127 million) share repurchase program aimed at reducing its outstanding share capital, as it announced improved earnings and ushered in a new chief executive.
March 26, 2024
UK Clears £1.2B Atlanta-Markerstudy Insurance Broker Merger

Britain's antitrust authority said Tuesday it has cleared the planned merger between Atlanta Group and Markerstudy, a deal that values Ardonagh's home and car insurance business at £1.2 billion ($1.5 billion), after finding that the deal will not harm competition in domestic markets.
March 26, 2024
Revolution Bar Chain Considers Putting Itself Up For Sale

Revolution Bars said Tuesday that it may put itself up for sale to maximize value for shareholders in the chain of bars as the hospitality industry continues to struggle after COVID-19 and amid a cost-of-living crisis.
March 25, 2024
Man Denies Conspiring Against Game Host's Ex-Biz Partner

A man accused of conspiring with convicted HBOS fraudster Mark Dobson to acquire a company from the ex-business partner of TV personality Noel Edmonds by undervaluing it has denied that any plot existed.
March 25, 2024
Qualcomm Halts Plan To Buy Israeli Biz Under Regulatory Heat

The Federal Trade Commission is celebrating Qualcomm's decision to abandon its attempts at acquiring an Israeli company that makes chips that allow vehicle-to-vehicle communication after too much regulatory pushback.
March 25, 2024
Virgin Seeks Full $200M In Train Brand Feud After $115M Win

Virgin Enterprises Ltd. has sued Brightline Holdings LLC for the full $200 million exit fee for backing out of its train brand licensing deal after already winning $115 million, arguing in documents made public on Monday that it's owed a boosted exit fee because of a change in control of the U.S. rail operator.
March 25, 2024
Novo Nordisk Inks $1.1B Deal For German Pharma Biz

Danish pharmaceutical giant Novo Nordisk A/S said Monday it has signed a deal to acquire Cardior Pharmaceuticals of Germany for just over €1 billion ($1.1 billion) to widen its focus on cardiovascular diseases.
March 25, 2024
Taseko To Become Sole Owner Of Copper Mine In $105M Deal

Mining company Taseko said Monday that it has agreed to acquire the remaining interest in the second-largest copper mine in Canada for up to $142 million Canadian dollars ($105 million).
March 25, 2024
PE Firms Fuel 30% Rise In 2023 European Insurance M&A

The number of deals involving European insurance businesses rose by 30% last year, fueled by an increased role of private equity financing in the sector, a consultancy said Monday.
March 25, 2024
Communications Biz To Return £35M To Shareholders

Gamma Communications PLC unveiled on Monday a share repurchase program of up to £35 million ($44 million) aimed at lowering its outstanding share capital and rewarding investors as the company reported a surge in pretax profits.
March 25, 2024
DLA Piper, Clifford Chance Guide £44M Sale Of London Asset

Property investment firm Helical PLC said Monday that it has agreed to sell a London office building to an affiliate of investment manager Ares Management for £43.5 million ($55 million) in a deal led by Clifford Chance LLP and DLA Piper.
March 25, 2024
EU Says Lufthansa Deal Could Harm Air Transport Competition

Europe's antitrust authority said on Monday that Lufthansa's plan to buy a 41% stake in ITA Airways for €325 million ($352 million) could lead to higher prices and poorer service for passengers taking flights in and out of Italy.
March 25, 2024
Ageas Drops £3.2B Direct Line Offer After Pushback

Belgian-French insurer Ageas has pulled its £3.2 billion ($4 billion) proposed bid for Direct Line after the British rival continued to snub its offers.
March 25, 2024
KKR To Complete £1.3B Takeover, Delist Smart Metering Co.

Private equity giant KKR said Monday that it will complete its £1.3 billion ($1.6 billion) takeover of a British energy infrastructure company and take its shares off the London Stock Exchange.
March 22, 2024
JPMorgan Gets Early Trial On US Regs In Viva Wallet Dispute

J.P. Morgan on Friday was granted an expedited London trial on some of the issues in its warring claims with the founder of a Greek payment company co-owned by the investment bank over the fintech business' value.
March 22, 2024
Money Laundering Ringleader Jailed For £560K Bank Con

A fraudster who set up sham carpet and furniture businesses as part of a money laundering scheme that lost banks £560,000 ($705,000) has been jailed for six years and four months, the U.K.'s Insolvency Service said Friday.
March 22, 2024
UK Litigation Roundup: Here's What You Missed In London

This past week in London has seen the BBC and Wall to Wall Media hit with a passing off lawsuit by musician BOSSIIE, Poundland parent company Pepco Group file a commercial fraud claim against several mobile network giants, family law specialists Alexiou Fisher Philipps LLP start proceedings against former oil trader Michael Prest, and a transgender lawyer file a libel claim against a blogger. Here, Law360 looks at these and other new claims in the U.K.
March 22, 2024
Galderma Starts Trading In Switzerland After Pricing IPO

Private equity-backed Swiss skincare company Galderma Group AG began trading publicly Friday after pricing its $2.4 billion initial public offering, marking the next stage of its growth trajectory.
March 22, 2024
James Fisher To Sell Unit To Texas Co. For £90M

Offshore oil and gas services company James Fisher said Friday it is selling one of its non-core businesses to U.S. drilling technology company ChampionX Corp. for £90 million ($113 million) to simplify its portfolio.

Expert Analysis

How Market Challenges Are Affecting Deal-Making Trends

As private equity investors adjust to a new period of volatility and uncertainty in the marketplace, various trends in deal making are emerging in order to bridge valuation gaps and address financing concerns, say Alvaro Membrillera and Anna Pollak at Paul Weiss.
What Digital Asset Decisions Mean For Future Disputes

Following a number of recent landmark decisions in the English courts, the law continues to develop in the sphere of digital assets, and several themes are emerging that will benefit both individuals and organizations, say Chris Recker at Duane Morris and Celso De Azevedo at The 36 Group.
A Look At UK's 1st Report On Security Regime For Deals

The U.K. government’s recent report on the National Security and Investment Act, covering its first three months since it came into force in January, suggests that the regime may not be leading to a surge in benign notifications and that the government is responding quickly, which is good news for businesses, say attorneys at Cooley.
What EU Changes To Dual Distribution Mean For Franchises

Following the European Commission’s adoption of the Vertical Block Exemption Regulation and accompanying vertical guidelines regarding dual distribution, which took effect this month, franchisors should examine their flow of information to and from franchisees to determine whether it must be restricted, say attorneys at Baker McKenzie.
How ESG Matters Are Influencing M&A Due Diligence Trends

With a proliferation of environmental, social and governance-related regulatory developments and a desire to comply with best practice, ESG matters have become an increasingly important area of focus for both clients and advisers in M&A transactions, say attorneys at Sullivan & Cromwell.
Changes To UK Competition Rules Will Extend CMA Powers

Recent amendments to U.K. competition and consumer law regimes introduce changes to merger control and antitrust investigations that will result in the speedier resolution of cases and greater autonomy for the Competition and Markets Authority, say Bill Batchelor and Aurora Luoma at Skadden.