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Transactions UK
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October 22, 2024
Hughes Hubbard Adds Securities Pro From Clifford Chance
Hughes Hubbard & Reed LLP has hired an experienced U.S. securities and capital markets expert as a partner in Paris, as the firm looks to grow its financing and cross-border M&A practices in Europe.
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October 15, 2024
InPost Pays £60M For Full Control Of UK Distributor Menzies
InPost Group SA said Tuesday it has paid £60.4 million ($80 million) for the 70% of shares in Menzies Distribution Ltd. that it does not already own, which the Polish company expects will boost its parcel locker business in the U.K.
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October 15, 2024
Banknotes Maker Agrees To Sell Unit For £300M
Banknotes maker De La Rue said Tuesday that it has agreed to sell its authentication division and related entities to a U.S. company for £300 million ($390 million) in a deal steered by Bird & Bird, Slaughter and May and Freshfields.
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October 15, 2024
UBS Told To Bolster Crisis Plans After Credit Suisse Deal
UBS must boost its emergency plans after buying stricken rival Credit Suisse to ensure that the combined group can wind down or be sold without cost to taxpayers, Switzerland's finance watchdog said on Tuesday.
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October 15, 2024
Supplement Co. Shoots For £400M Valuation In London IPO
Applied Nutrition PLC said Tuesday that it is eyeing a market value of up to £400 million ($523 million) when the U.K. sports supplement company starts to trade on the London Stock Exchange later in October to finance an expansion.
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October 15, 2024
Ventilation Biz Told To Sell UK Sites After CMA Probes Deal
The Competition and Markets Authority said Tuesday that Swedish ventilation company Lindab must sell two sites in the U.K. after finding that its now-completed deal to snap up a British rival could lead to higher prices.
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October 14, 2024
Latham-Led TI Fluid To Back Apollo's Increased £1B Offer
Auto parts supplier TI Fluid Systems PLC said Monday that it has received an offer worth approximately £995 million ($1.3 billion) from private equity-backed Canadian competitor ABC Technologies Inc., which the British company indicated it is inclined to accept.
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October 14, 2024
Netherlands To Buy 2 Air Defense Systems For $1B
Norwegian company Kongsberg Group said Monday that the government of the Netherlands has agreed to acquire two air defense systems from its defense and aerospace division for approximately 11 billion Norwegian krone ($1 billion).
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October 14, 2024
Permira Wraps $7.2B Deal For Squarespace Amid Litigation
Private equity firm Permira said Monday that it has successfully bought the outstanding stock of Squarespace Inc. in its proposed $7.2 billion deal to take the website builder private, amid ongoing shareholder litigation in the U.S. challenging the transaction.
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October 14, 2024
PE Biz BP Marsh Invests £2.5M In Startup Underwriter Volt
BP Marsh & Partners PLC said Monday that it has made an investment worth up to £2.5 million ($3.3 million) in Volt UW HoldCo. Ltd., snapping up a 25.5% stake in the insurance startup that specializes in energy transition.
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October 14, 2024
Baker McKenzie Leads Lundbeck's $2.6B Deal For US Pharma
Lundbeck said Monday that it has agreed to buy Longboard, a U.S. biopharmaceutical business, for $2.6 billion in cash as the Danish drug giant aims to capture a drug with "blockbuster potential" to treat a rare form of epilepsy.
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October 21, 2024
Mayer Brown Taps Life Insurance Expert From Skadden
Mayer Brown LLP has hired an insurance expert as a partner at its London practice as the U.S.-based firm looks to boost its U.K. presence in the complex life insurance sector.
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October 14, 2024
Pulp Giant Int'l Paper Shareholders Back £5.8B DS Smith Buy
International Paper Co. said Monday that its shareholders have "overwhelmingly" supported the planned £5.8 billion ($7.6 billion) all-share purchase of DS Smith PLC, its smaller U.K. rival, as the packaging giant eyes overseas expansion.
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October 14, 2024
Rockhopper Insures Against Italy Annulling €190M Award
British energy company Rockhopper Exploration PLC said Monday that it has penned an insurance policy to cover the potential annulment of the €190 million ($207 million) arbitral award it won against Italy after the country banned oil and gas projects off its coastline.
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October 14, 2024
Mulberry Weighs Position After Shareholder Rejects £111M Bid
Luxury brand Mulberry Group PLC said Monday that it is reviewing its position after its majority shareholders rejected a sweetened £111 million ($145 million) proposed takeover bid from Frasers Group.
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October 11, 2024
France Targets Largest Cos. With Tax In Austerity Budget
The French government said it plans to implement a temporary tax targeting the country's biggest companies as part of a budget of €61.3 billion ($67 billion) of fiscal changes intended to help bring the deficit in line with European Union rules.
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October 11, 2024
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen billionaire Lakshmi Mittal sue steel magnate Sanjeev Gupta in a long-running clash to claw back €140 million ($153 million) of debt, a high-profile AI researcher take action against the Intellectual Property Office to register his software as a listed patent inventor and troubled housing trust Home Reit face a claim by a real estate developer. Here, Law360 looks at these and other new claims in the U.K.
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October 11, 2024
Myprotein Owner Raises £95M Equity For Ingenuity Demerger
Myprotein British bodybuilding supplement brand owner THG PLC said Friday that it has raised £95 million ($124.8 million) in an oversubscribed equity offering from new investors and existing shareholders that will help it with its plans to demerge its commerce division Ingenuity.
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October 11, 2024
Linklaters Guides £145M Pension Deal For Church Of England
The Church of England Pensions Board said it has closed a £145 million ($190 million) pensions risk transfer transaction with Aviva, securing the benefits of the retirements savings plan's members.
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October 18, 2024
O'Melveny Hires Expert PE Duo From Ashurst
O'Melveny & Myers LLP has added two private equity experts from Ashurst LLP to its London office as partners in the firm's private equity group, strengthening its cross-border capabilities.
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October 11, 2024
Taxation With Representation: Davis Polk, Latham, Kirkland
In this week's Taxation With Representation, Rio Tinto agrees to acquire Arcadium Lithium for roughly $6.7 billion, Ares Management Corp. and GCP International reach a $3.7 billion deal, and Butterfly Equity announces plans to buy The Duckhorn Portfolio for $2 billion.
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October 11, 2024
Waste Co. Directors Hit Back At Energy Biz Buyer For £5.4M
The directors of a waste management company have hit back with a £5.4 million ($7.1 million) counterclaim against a business that acquired their food waste processing plant, accusing the buyer of diverting waste away from the operation to minimize performance-based payments.
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October 11, 2024
Retirement Savings Consultancy Isio Buys Pension Broker
Isio Group Ltd. said Friday that it has inked a deal to buy pensions specialist K3 Advisory Ltd., which it expects will enhance its business amid "strong demand" for transactions in the retirement savings sector.
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October 11, 2024
UK Insurer Saga In Talks Over £140M 20-Year Deal With Ageas
Travel and insurance company Saga PLC confirmed Friday that it was in "exclusive negotiations" with Ageas over a two-decade partnership, as well as the sale of its underwriting unit to the Belgian business.
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October 10, 2024
Private Equity Behind Half Of UK Insurance Intermediary Deals
Private equity-backed transactions continue to dominate the mergers and acquisitions scene in Britain's insurance distribution sector, which could see a rise in transactions this month despite a quiet September, according to financial services advisory firm MarshBerry.