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Transactions UK
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April 25, 2025
EU Probing Universal Music's $775M Deal For Downtown
European enforcers are reviewing a planned deal for Universal Music Group to buy Downtown Music Holdings for $775 million, after receiving a referral from competition authorities in Austria and the Netherlands.
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April 25, 2025
DoorDash Woos Deliveroo With $3.6B Acquisition Bid
Deliveroo's board confirmed Friday that it received an indicative proposal from DoorDash Inc. for a potential cash offer to acquire the business at a price of 180 pence per share, while indicating that its board could recommend a deal to shareholders.
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April 25, 2025
Taxation With Representation: Dechert, Brown Rudnick
In this week's Taxation With Representation, Boeing sells parts of its digital aviation solutions business to Thoma Bravo, Baker Tilly and Moss Adams join forces, Mobico sells its U.S. school bus business to I Squared Capital, and Apollo commits to a joint venture with Bullrock Energy Ventures.
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April 25, 2025
UK Law, Accounting Bodies Queried On Poor SAR Records
The anti-money laundering unit of the Financial Conduct Authority has told legal and accounting professional bodies to justify their failure to check the quality of suspicious activity reports by their member firms.
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April 25, 2025
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen pub operator Stonegate sue insurance broker Marsh, a human rights lawyer sued for defamation by Russian businessman Ovik Mkrtchyan, and British toy maker The Character Group reignite an employment dispute with a former finance director. Here, Law360 looks at these and other new claims in the U.K.
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April 25, 2025
Identity Verification Firm GBG Begins £10M Share Buyback
GB Group PLC said on Friday that it has started a program to buy back shares of up to £10 million ($13 million), a move the ID verification firm said would reduce its outstanding capital.
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April 25, 2025
South Korean Co. To Buy Norwegian Silicon Biz For $89M
REC Silicon ASA said Friday that Hanwha Group, its largest shareholder, has offered to acquire the company in a deal that values it at approximately 925 million Norwegian kroner ($89 million).
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April 25, 2025
Argentex CEO Exits As Stricken FX Firm Mulls £3M Bid
Argentex Group PLC said Friday it has replaced its head and named its chief operating officer as interim CEO, as the U.K. foreign exchange service provider navigates a financial crisis and a possible sale of the company.
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April 25, 2025
Portuguese Energy Biz To Float In London On April 30
Clean energy company Technologies New Energy SA of Portugal said Friday that it will begin to trade its shares in London on April 30, after it was bought in February for £28 million ($37 million) by blank-check company Codex.
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April 25, 2025
Aegon Defeats Worker's Contract Claim After Work Transfer
Aegon has beaten an unfair dismissal claim brought by a former Nationwide employee who resigned after his job transferred to the insurer, arguing that changes to his work conditions left him no choice but to quit.
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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.
Expert Analysis
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FCA Bulletin Highlights Risks Of Leaking Inside M&A Info
The Financial Conduct Authority’s recent bulletin on the consequences of leaking sensitive information during transactions, warning that such disclosure may result in market abuse allegations, demonstrates the regulator’s determination to root out and penalize insider dealing, say lawyers at Cadwalader.
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How CMA Is Responding To UK Gov't Pro-Growth Agenda
With the U.K. government’s recent call for the Competition and Markets Authority and other regulators to better support economic growth, the competition policy landscape is shifting materially toward an emphasis on a more proportionate and targeted approach to merger enforcement, say lawyers at Macfarlanes.
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What Latest VC Model Document Revisions Offer UK Investors
Recent updates to the British Private Equity and Venture Capital Association model documents, reflecting prevailing U.K. market practice on early-stage equity financing terms and increasing focus on compliance issues, provide needed protection for investors in relation to the growth in global foreign direct investment regimes, say lawyers at Davis Polk.
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What Cos. Must Note From FCA Bulletin On Leaking M&A Info
The Financial Conduct Authority’s recent bulletin on strategic leaks in merger and acquisition transactions, as the second such publication in four months, acts as a warning for issuers and their advisers to tighten up their current policies for handling inside information, say lawyers at Herbert Smith.
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Key Takeaways From The 2025 Spring Antitrust Meeting
Leadership changes, shifting priorities and evolving enforcement tools dominated the conversation at the recent American Bar Association Spring Antitrust Meeting, as panelists explored competition policy under a second Trump administration, agency discretion under the 2023 merger guidelines and new frontiers in conduct enforcement, say attorneys at Freshfields.
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What To Know About FCA's UK Listing Rules Proposal
A recent consultation paper from the Financial Conduct Authority aims to streamline the securities-listing process for U.K.-regulated markets, including by allowing issuers to submit a single application for all securities of the same class, and aligning the disclosure standards for low-denomination and wholesale bonds, say lawyers at Debevoise.
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Issues To Watch At ABA's Antitrust Spring Meeting
Attorneys at Freshfields consider the future of antitrust law and competition enforcement amid agency leadership changes and other emerging developments likely to dominate discussion at the American Bar Association's Antitrust Spring Meeting this week.
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What To Note In EU Tech Transfer Agreements Consultation
Robert Klotz at Steptoe explains the European Commission’s main contemplated amendments to a regulation that exempts certain technology transfer agreements from European Union restrictions, the current political context around the ongoing reform, and as its potential consequences for businesses.
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UK Refusal Of US Extradition Request May Set New Standard
The recent U.K. Supreme Court ruling in El-Khouri v. U.S., denying a U.S. extradition request, overturns a long-held precedent and narrows how U.K. courts must decide such requests, potentially signaling a broader reevaluation of U.K. extradition law, say lawyers at Dechert and Kingsley Napley.
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Key Findings From EU Report On Antitrust Remedies
Although the European Commission’s recent report assessing the effectiveness of its antitrust policy on behavioral remedies is not binding, it may influence future cases and promote coherence, providing useful insights for national competition authorities and courts when considering remedies in their own jurisdictions, say lawyers at Paul Weiss.
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New UK Order Offers Welcome Clarity To Crypto Staking Rules
The recently effective Financial Services and Markets Act 2000 Amendment Order clarifies that arrangements for qualifying crypto-asset staking do not amount to a collective investment scheme, and by addressing an issue that curtailed staking activities in the U.K., facilitates the use of that practice, says Andrew Henderson at Goodwin.
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How EU Competition Policy Will Affect State Aid Rules
The European Commission’s recent competitiveness compass policy indicates its ambitions for the European Union to become an economic powerhouse, leveraging a new coordination tool that would affect state aid rules and boost public support for green energy investments, say lawyers at Linklaters.
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Banker Remuneration Proposals Could Affect More Than Pay
The Financial Conduct Authority and Prudential Regulation Authority’s pending proposals to reduce banker remuneration restrictions bring obvious personal financial advantages for bankers, but may have repercussions that result in increased scrutiny of bonus payments and wider changes to workplace culture and overall accountability, say lawyers at Fox Williams.
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Rethinking 'No Comment' For Clients Facing Public Crises
“No comment” is no longer a cost-free or even a viable public communications strategy for companies in crisis, and counsel must tailor their guidance based on a variety of competing factors to help clients emerge successfully, says Robert Bowers at Moore & Van Allen.
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EU Paper Urges Data Protection And Competition Law Unity
A recent European Data Protection Board position paper calls for closer cooperation among data protection and competition authorities, and provides valuable insight for businesses seeking to ensure compliance across an increasingly complex regulatory landscape, say lawyers at Paul Weiss.