Transactions UK

  • February 23, 2024

    Standard Chartered To Return $1B To Shareholders

    Standard Chartered PLC said on Friday it will return up to $1 billion to its shareholders with a new share repurchase plan after the multinational lender announced a rise in profits for the 2023 calendar year.

  • February 22, 2024

    Water Treatment Co. Selling Saudi Business For Up To $7M

    Mycelx Technologies Corp. of the U.S. on Thursday announced the sale of its Saudi Arabian business operations in a transaction worth up to $7.125 million, a move it said would help boost its product sales, while relinquishing its business obligations in the country.

  • February 22, 2024

    Deals Rumor Mill: Occidental, Kroger-Albertsons, BuzzFeed

    Occidental explores a $20 billion sale of Western Midstream, the FTC and some states could sue to block the $24.6 billion Kroger-Albertsons deal, and The Independent is taking over BuzzFeed's U.K. and Irish operations. Here, Law360 breaks down the notable deal rumors from the past week.

  • February 22, 2024

    Memery Crystal Guides Parent RBG On £2.7M Fundraising

    RBG Holdings PLC said on Thursday that it plans to raise a minimum of £2.7 million ($3.4 million) by selling new shares to directors, shareholders, and retail investors, as the legal and professional services group seeks to clean up its balance sheet.

  • February 22, 2024

    Mercedes Launches €3B Buyback Despite Brake On Economy

    Mercedes-Benz said on Thursday that it will reward investors with a share buyback program worth up to €3 billion ($3.3 billion), after the luxury carmaker reported an improvement in its cash flow despite supply-chain bottlenecks and economic volatility.

  • February 22, 2024

    Addleshaw Goddard-Guided REIT Weighs New £225M Offer

    Abrdn Property said Thursday it is now considering a rival takeover bid for the U.K. real estate investor from Urban Logistics REIT, which has made a 59.2 pence "share-for-share" offer. This values Abrdn at approximately £225 million ($285 million).

  • February 22, 2024

    Lloyds Bank To Return £2B To Investors As Profit Soars

    British lender Lloyds Banking Group PLC said on Thursday that it will reward shareholders with a £2 billion ($2.5 billion) buyback program, following a growth in profits of 57%.

  • February 22, 2024

    Fieldfisher-Led Tech Co. Agrees £430M Unit Sale To PE Biz

    Marlowe PLC said Thursday that it has agreed to sell some of its risk management assets to private equity firm Inflexion for £430 million ($545 million), as the U.K. business services and software specialist looks to fully focus on its core compliance practice.

  • February 22, 2024

    Argentina Must Pay Upfront In €1.3B Payment Challenge

    Argentina must make an upfront payment if it wants to challenge a ruling forcing it to pay out €1.3 billion ($1.4 billion) to bondholders for wrongly adjusting the way it calculates yields for government securities, an appeals court ruled Thursday.

  • February 22, 2024

    Zurich To Reward Shareholders With $5B After Record Profit

    Swiss insurance heavyweight Zurich said on Thursday that it will return a total of $5 billion to shareholders after recording a record $7.4 billion operating profit for 2023.

  • February 21, 2024

    Proxy Advisers Push Gold Biz Investors To Accept £142M Bid

    Two major proxy advisory firms urged the shareholders of Shanta Gold Ltd. on Wednesday to accept a Mauritius-based conglomerate's £142 million takeover bid.

  • February 21, 2024

    Saint-Gobain Weighs Buying Australian Rival CSR For $2.9B

    French construction materials giant Saint-Gobain said Wednesday it is exploring potentially buying CSR Ltd., an Australian rival, for approximately $4.5 billion Australian dollars ($2.9 billion), as the company eyes expanding overseas.

  • February 21, 2024

    Cider Maker Magners Plans To Launch €15M Share Buyback

    C&C Group PLC said on Tuesday that it will reward investors through a share buyback program worth up to €15 million ($16 million), on the back of its confidence in the outlook for business.

  • February 21, 2024

    Financial Adviser Sues Law Firm For Ex-Director's Legal Fees

    Financial services business Gallium has claimed a law firm failed to question why it paid £673,000 ($850,000) in legal fees for its ex-director "in his personal capacity" during a dispute with another shareholder.

  • February 21, 2024

    Burges Salmon Leads Insurer's £11M Spar Pension Deal

    Insurer Just Group said on Wednesday that it has completed an £11 million ($13.8 million) pension buy-in transaction with Spar (UK) Ltd., in a deal guided by Burges Salmon LLP.

  • February 21, 2024

    Addleshaw Goddard Advises BT On £275M London Tower Sale

    BT Group PLC said Wednesday that it has agreed to sell its landmark London telecommunications tower for £275 million ($347 million) to a U.S. hotel group, which plans to convert the building into a hotel.

  • February 21, 2024

    HSBC Sets Out $2B Share Buyback After 2023 Profit Gain

    HSBC said on Wednesday that it will "shortly commence" a share buyback worth up to $2 billion as the British banking group looks to reward shareholders after posting record profits for the previous calendar year.

  • February 20, 2024

    EU Approves Orange's €18.6B Spanish Telecoms JV

    Europe's competition enforcer on Tuesday approved a deal for Orange SA and MasMovil Ibercom SA to combine their operations in Spain through a €18.6 billion ($20.3 billion) joint venture after the companies agreed to sell spectrum to a growing mobile operator in the country.

  • February 20, 2024

    Housing Maintenance Biz To Launch £20M Share Buyback

    Mears Group PLC said on Tuesday its board had given the green light for another share buyback program of up to £20 million ($25.2 million), stepping up its drive to return surplus capital to investors.

  • February 20, 2024

    InterContinental Sets $800M Buyback As Profits Soar

    Hospitality giant InterContinental said Tuesday that it will return over $1 billion to its shareholders in 2024, including an $800 million share buyback and $200 million in dividends, as its profits jumped 70% in 2023.

  • February 20, 2024

    Energy Co. Kistos To Buy EDF's Gas Storage Unit For £25M

    U.K. energy business Kistos Holdings PLC said Tuesday it has agreed to buy the gas storage unit of EDF Energy, the British subsidiary of the French nuclear power giant, for £25 million ($31.5 million).

  • February 20, 2024

    Barclays Plans £1B Share Buyback In Boost For Shareholders

    Barclays PLC said on Tuesday it will launch a new share buyback program worth up to £1 billion ($1.26 billion) in the first quarter of 2024 as the lender looks to return excess cash to shareholders.

  • February 20, 2024

    Israeli Fintech Plans $175M Share Buyback, Dividend Payout

    Plus500 said on Tuesday that it will roll out a new share buyback program worth up to $100 million, as it looks to reward investors despite a sharp drop in revenue.

  • February 20, 2024

    UK Software Biz Seeks More Time To Mull Takeover Offer

    SmartSpace has asked the U.K. government to extend a deadline for a U.S. peer to make a binding offer for the British software company after Skedda Inc. took its £25 million ($31.5 million) proposal off the table.

  • February 19, 2024

    Bank Of Georgia Offers $303.6M For Armenian Lender

    Bank of Georgia said Monday that it has agreed to buy an Armenian bank for around $303.6 million in a deal guided by Baker McKenzie and Travers Smith LLP as it seeks to grow beyond the national Georgian market.

Expert Analysis

  • Vodafone Decision Highlights Wide Scope Of UK's FDI Rules

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    The U.K. government’s recently imposed conditions required for its approval of Vodafone and Etisalat’s strategic relationship agreement under its National Security and Investment Act jurisdiction, illustrating the significance of the act as an important factor for transactions with a U.K. link, says Matthew Hall at McGuireWoods.

  • What Extension Of French FDI Control Means For Investors

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    The recently published French order on foreign investment control expands the regime's application to more sectors and at a lower threshold of share ownership, illustrating France's determination to maintain sovereignty over its supply chains in sensitive sectors, and adding new considerations for potential investors in these areas, say lawyers at Linklaters.

  • What To Expect For Private Capital Investment Funds In 2024

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    As 2024 gets underway, market sentiment in the private fundraising sphere seems more optimistic, with a greater focus on deal sourcing and operational optimizations, and an increased emphasis on impact and sustainability strategies, say lawyers at Ropes & Gray.

  • Cayman Islands Off AML Risk Lists, Signaling Robust Controls

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    As a world-leading jurisdiction for securitization special purpose entities, the removal of the Cayman Islands from increased anti-money laundering monitoring lists is a significant milestone that will benefit new and existing financial services customers conducting business in the territory, say lawyers at Walkers Global.

  • Acquisition Of AI Tech Poses Challenges For Media Industry

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    The artificial intelligence regulatory landscape is changing quickly, and media and entertainment companies planning to acquire AI technology through a merger, acquisition or licensing deal should be mindful of potential new compliance requirements and AI-specific insurance products, say lawyers at Covington.

  • Due Diligence Pointers After Entain Deferred Prosecution Deal

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    The Crown Prosecution Service's £615 million settlement with Entain last month signifies that the CPS is a serious enforcer of corporate crime, and illustrates the importance of carrying out a tailored risk assessment in preparation for and following an acquisition, say Matthew Cowie and Aziz Rahman at Rahman Ravelli.

  • What Can Be Learned From Adobe-Figma Merger Termination

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    The Competition and Markets Authority’s role in the recent termination of the proposed Adobe-Figma merger deal indicates the regulator's intention to be seen as a strong enforcer in the technology sphere, and serves as a warning for companies to address antitrust risks early on in the merger process, say Deirdre Taylor and Molly Heslop at Gibson Dunn.

  • How FCA Listing Regime Reform Proposals Are Developing

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    The Financial Conduct Authority’s recently proposed U.K. equity listings reforms maintain increased flexibility with a disclosure-based approach, but much of the new regime’s success will depend on the eligibility criteria used and whether additional governance will be required for inclusion, say lawyers at Debevoise.

  • US And UK Law Firms Continue Trend Of EU Expansion

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    A broad spectrum of U.S. and U.K. law firms are now seeking fresh opportunities in Europe's fastest growing and constantly evolving sectors by opening offices in strategic locations across the continent, says James Lavan at Buchanan Law.

  • A Look At 2023's Landmark Insolvency Developments

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    The insolvency landscape in 2023 witnessed pivotal court decisions that will continue to shape the industry in 2024, with a focus on refining director and administrator duties and obligations, and addressing emerging challenges, says Kerri Wilson at Ontier.

  • Regulating Digital Platforms: What's Changing In EU And UK

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    Lawyers at Mayer Brown assess the status of recently enacted EU and U.K. antitrust regulation governing gatekeeper platforms, noting that the effects are already being felt, and that companies will need to avoid anti-competitive self-preferencing and ensure a higher degree of interoperability than has been required to date.

  • An Overview Of European Private Investments in Public Equity

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    Although still fairly rare, private investments in public equity may continue to be an attractive option for some European issuers seeking to secure equity financing, and advisers planning such an investment should consider the various local options, requirements and norms, say lawyers at Sullivan & Cromwell.

  • UK Takeover Code Changes: Key Points For Bidders, Targets

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    Newly effective amendments to Rule 21 of the U.K. Takeover Code, which remove legal and administrative constraints on a target operating its business in the ordinary way during an offer, will add clarity for targets and bidders, and are likely to be welcomed by both, say lawyers at Davis Polk.

  • EU Rejection Of Booking.com Deal Veers From Past Practice

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    The European Commission's recent prohibition of Booking's purchase of Etraveli based on ecosystem theories of harm reveals a lower bar for prohibiting nonhorizontal mergers, and may mean increased merger scrutiny for companies with entrenched market positions in digital markets, say lawyers at Linklaters.

  • What Lawyers Can Learn From FDI Screening Report Findings

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    The recent European Commission report on the screening of foreign direct investments into the EU reveals how member states need to balance national security concerns with openness, and with more cross-border transactions subject to screening, lawyers must be alert to jurisdictional variances, says Jonathon Gunn at Faegre Drinker.

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