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Transactions UK
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April 25, 2025
Slaughter And May Leads Coach Biz's $600M US Unit Sale
Public transport operator Mobico Group PLC said Friday it has agreed to sell its U.S. school bus business to I Squared Capital, a private equity firm that specializes in infrastructure, in a transaction worth up to $608 million.
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April 24, 2025
Ex-EY, PwC Execs' New Venture Backed By $300M PE Funding
Private equity giant Warburg Pincus has agreed to plug up to $300 million into a new accounting and consulting firm led by former leaders of two of the Big Four accounting firms.
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April 24, 2025
Ardonagh Group Acquires Swiss Broker SRB Assekuranz
The Ardonagh Group, a British insurance broker, said Thursday that it has acquired Zurich-based SRB Assekuranz Broker AG in a move to expand its MDS Group division.
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April 24, 2025
Certification Firm Bureau Veritas Sets €200M Buyback
Bureau Veritas said Thursday it will reward investors with a €200 million ($227 million) share repurchase program as the French laboratory testing and certification services firm reported an increase in revenue.
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April 24, 2025
Shareholders Back Miami's £70M Bid For European Exchange
The International Stock Exchange said Thursday that its shareholders have backed an approximately £70.4 million ($94 million) takeover offer from the owner of the Bermuda Stock Exchange.
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April 24, 2025
EDF Offers To Buy EV Charger Manufacturer For £4.8M
Pod Point, a maker of electric vehicle charging points, said Thursday that French utility firm EDF, its largest shareholder, has offered to acquire the company for approximately £4.8 million ($6.4 million).
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April 24, 2025
Vet Services Biz CVS To Sell Crematoria Operations For £42M
CVS Group PLC on Thursday announced the disposal of its crematoria operations to a pet aftercare company for £42.4 million ($56 million) cash, a move it believes will help it focus on its veterinary and diagnostics services.
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April 24, 2025
UK Gov't Clears Tile Biz's £9M Deal To Buy Rival
The Competition and Markets Authority said Thursday Topps Tiles' acquisition of 30 stores of rival CTD Tiles for £9 million ($12 million) can now proceed, after it approved the U.K. retailer's remedy to offload four of the outlets.
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April 24, 2025
Science Group Calls For Board Changes At Rival Ricardo
Science Group PLC called for a shake-up of the board of Ricardo on Thursday after building a 20.1% stake in the rival technology consultancy.
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April 24, 2025
Walker Morris Steers £28M Pension Deal For Metals Trader
A U.K. stainless steel and alloy metal trader's pension plan has agreed a £28 million ($37.3 million) buy-in with Just Group, the financial services firm said Thursday, securing the benefits of almost 100 deferred members and about 80 retirees.
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April 23, 2025
BT Sells Rest Of Italian Telecoms Biz To Local B2B Service
Retelit SpA said Wednesday that it has agreed to acquire British Telecom's remaining stake in BT Italia SpA to boost its capacity and meet growing demand.
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April 23, 2025
Insurance Group JMG Buys 3 UK Brokers To Boost Presence
Insurance Group JMG Group said Wednesday that it has acquired three British brokers to integrate them with three of its own subsidiaries in a bid to strengthen its presence in the country.
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April 23, 2025
Argentex Weighs Sale To Rival IFX Amid Liquidity Crisis
Foreign exchange service provider Argentex Group PLC said Wednesday that it had entered into "advanced discussions" about a potential acquisition by U.K. rival IFX Payments.
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April 23, 2025
THG Rejects £600M Approach From Selkirk For Myprotein
THG PLC, owner of the Myprotein bodybuilding supplement brand, said Wednesday that it rejected an "unsolicited, largely unfunded, highly conditional and non-binding proposal" of up to £600 million ($797 million) from London-listed shell Selkirk Group PLC to acquire Myprotein.
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April 23, 2025
SME Loans Firm To Launch New £25M Share Buyback
Funding Circle Holdings PLC said Wednesday it will launch a new share repurchase program of up to £25 million (£33 million) after the provider of loans to small and midsized companies recently reported a rise in revenue.
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April 23, 2025
Swiss Drug Developer Veraxa To List In US In $1.6B SPAC Deal
Swiss life sciences investor Xlife Sciences said Wednesday that its portfolio company, Veraxa Biotech, will merge with blank-check business Voyager Acquisition Corp. in a $1.64 billion deal to list on Nasdaq.
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April 23, 2025
Stakeholders Sell £21M Of Shares In Gold Miner Serabi
Two stakeholders in Serabi Gold PLC have sold a total of 20.7% of the U.K. company's share capital to institutional investors, the miner of precious metals said on Wednesday.
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April 22, 2025
Sidley Steers Admiral's Sale Of US Insurance Biz
Admiral Group PLC said Tuesday it has agreed to sell its U.S. motor insurance business to private investment firm J.C. Flowers & Co. for an undisclosed cash amount.
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April 29, 2025
Sidley Adds Former Latham Capital Markets Pro In London
Sidley Austin LLP has hired an experienced debt and equity capital markets heavyweight as a partner in its London practice, as the U.S. law firm continues to strengthen its European presence.
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April 22, 2025
Generali Launches Secondaries Fund With Partners Group
Italian asset management group Generali Investments said Tuesday that it has launched a new investment fund in partnership with Swiss-based global private equity firm Partners Group AG.
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April 22, 2025
Simmons & Simmons Guides Regent's £109M Bid For Inspired
Gas and metering services business Regent said Tuesday that it is looking to buy London-listed Inspired PLC for £109.35 million ($146.4 million) in cash, in an attempt to help reduce debt at the energy and sustainability adviser.
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April 22, 2025
Simpson Thacher-Led KKR Bids $1.2B For Sweden's Biotage
Private equity giant KKR said Tuesday that it has agreed to acquire Swedish life sciences company Biotage AB in an approximately 11.6 billion Swedish krona ($1.2 billion) deal guided by Roschier Advokatbyrå AB, Simpson Thacher & Bartlett LLP and Advokatfirman Vinge.
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April 22, 2025
Fieldfisher Steers Swedish Investor's UK Monitoring Biz Buy
Vestum AB said Tuesday it has completed the acquisition of Nortech Management Holdings Ltd., a U.K. maker of water and electrical monitors, as the Swedish infrastructure investor adds an existing supplier to its civilian engineering portfolio.
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April 22, 2025
Milbank, Paul Weiss, Chiomenti Steer PE Group's £1B Buy
Investindustrial Advisors Ltd. said on Tuesday that one of its divisions has agreed to acquire the healthcare unit of Irish sales and marketing giant DCC PLC for up to £1.05 billion ($1.4 billion), as the private equity group seeks to exploit socio-demographic trends.
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April 22, 2025
Helvetia, Baloise Merge To Form 2nd-Largest Swiss Insurer
Swiss insurers Helvetia and Baloise said on Tuesday that they plan to merge in a move to create the second-largest insurance group in Switzerland, taking approximately 20% of the domestic market.
Expert Analysis
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Testing The Limits Of English Courts' Pro-Arbitration Stance
Although the Court of Appeal recently upheld a $64 million arbitration award in Eternity Sky v. Zhang, the judgment offers rare insight into when the English courts’ general inclination to enforce arbitral awards may be outweighed by competing policy interests such as consumer rights, say Declan Gallivan and Peter Morton at K&L Gates.
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EU Merger Control Concerns Remain After ECJ Illumina Ruling
The recent European Court of Justice judgment in Illumina-Grail is a welcome check on the commission's power to review low-threshold transactions, but with uncertainty persisting under existing laws and discretion left to national regulators, many pitfalls in European Union merger control remain, says Matthew Hall at McGuireWoods.
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Examining The EU's New Payments Services Package
Following recent European Parliament elections, the spotlight is turning to the highly anticipated payments services package expected in September, marking a pivotal moment in the legislative process that will reshape the payment services ecosystem in the European Union, says Kristýna Tupá and Karolína Hlavinková at Schoenherr.
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EU Reports Signal Greenwashing Focus For Financial Sector
Reports from the European Supervisory Authorities on enforcement of sustainability information, plus related guidance issued by the European Securities and Markets Authority, represent a fundamental change in how businesses must operate to maintain integrity and public trust, say Amilcare Sada and Matteo Fanton at A&O Shearman.
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What M&A Uptick Will Mean For Legal Hiring
Thomson Reuters research reveals an improving macroeconomic picture of incoming interest rate cuts, and with market confidence in the new U.K. government, there is a higher corporate demand for transactional advice, leading law firms to increase their hiring in preparation for this heavier workload, says James Lavan at Buchanan Law.
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Takeaways From First EU Foreign Subsidy M&A Investigation
The European Commission's recent investigation into Emirates Telecommunications' proposed acquisition of PPF Telecom is the first in-depth investigation of an M&A deal under the Foreign Subsidies Regulation, demonstrating that the regulation can have real consequences in practice that companies must consider at the outset of large transactions, says Matthew Hall at McGuireWoods.
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Disclosure Takeaways From Superdry Restructuring Plan
Superdry’s recently approved restructuring plan is said to be the first of its kind accompanied by a capital raise, with the High Court of England and Wales’ interim judgment providing helpful guidance on disclosure requirements, say lawyers at King & Spalding.
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EU Competition Report Spotlights Areas For Future Focus
The European Commission’s recent report on protecting competition highlights the importance of safeguarding innovation and preventing exploitative conduct by dominant firms, signaling that strong and focused law enforcement is to remain a priority with an even greater application of abuse-of-dominance rules, say Nicole Kar and Charlotte Mann at Paul Weiss.
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Insurance Rulings Show Court Hesitancy To Fix Policy Errors
Two recent Court of Appeal insurance decisions highlight that policyholders can only overcome policy drafting errors and claim coverage if there is a very obvious mistake, emphasizing courts' reluctance to rewrite contract terms that are capable of enforcement, says Aaron Le Marquer at Stewarts.
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Irish Businesses Should Act Now To Prepare For EU AI Act
Artificial intelligence is increasingly transforming the Irish job market, and proactive engagement with the forthcoming European Union AI Act, a significant shift in the regulatory landscape for Irish businesses, will be essential for Irish businesses to responsibly harness AI’s advantages and to maintain legal compliance, say lawyers at Pinsent Masons.
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Unpacking The New Concept Of 'Trading Misfeasance'
In addition to granting one of the largest trading awards since the Insolvency Act was passed in 1986, the High Court recently introduced a novel claim for misfeasant trading in Wright v. Chappell, opening the door to liability for directors, even where insolvent liquidation or administration was not inevitable, say lawyers at Greenberg Traurig.
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Opinion
The FTC Needs To Challenge The Novo-Catalent Deal
Novo's acquisition of Catalent threatens to substantially lessen competition in the manufacturing and marketing of GLP-1 diabetes and obesity drugs, and the Federal Trade Commission should challenge it under a vertical theory of harm, as it aligns with last year's merger guidelines and the Fifth Circuit decision in Illumina, says attorney David Balto.
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Complying With EU Commission's Joint Purchasing Rules
One year after the European Commission released its revised guidelines on horizontal cooperation agreements, attorneys at Crowell & Moring reflect on the various forms such agreements can take, and how parties can avoid structuring arrangements that run afoul of competition law.
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Tips For Implementing EU Sustainability Reporting Guidance
Lawyers at Sullivan & Cromwell discuss the European Financial Reporting Advisory Group’s recently published guidance on double materiality assessments and offer takeaways on achieving a sustainability directive-compliant process that could enhance clarity and consistency among multinational stakeholders.
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What UK Digital Markets Act Will Mean For Competition Law
The new Digital Markets Act’s reforms will strengthen the Competition and Markets Authority's investigatory and enforcement powers across its full remit of merger control and antitrust investigations, representing a seismic shift in the U.K. competition and consumer law landscape, say lawyers at Travers Smith.