We set out below a number of interesting English and European court decisions and market developments which have taken place and their impact on M&A transactions. This review looks at these developments and gives practical...more
This briefing is the third in our series of briefings on corporate governance and is designed to provide a synopsis of topical corporate governance matters impacting companies in the United Kingdom. This briefing tracks the...more
Key trends -
We are now over half way through the year and moving towards the end of the AGM season. The trends which we identified at the start of the year have generally continued. Most companies have chosen to hold a...more
Refinitiv, Q1 2022 Adviser Rankings, US law firms, September 2021 We continue to track the approach FTSE 350 companies are taking to the holding of their AGMs. We have set out in our snapshot the approach companies have taken...more
Long-term consumer behavior triggered by the pandemic continues to catalyze deal activity -
While initially hit hard by the 2020 outbreak of the COVID pandemic, global retail M&A rallied throughout 2021 and the start of...more
5/11/2022
/ Acquisitions ,
Consumers ,
Coronavirus/COVID-19 ,
Food Marketing ,
Hydrogen Power ,
Investment ,
Investors ,
Luxury Goods ,
Mergers ,
Retail Market ,
Retailers
Companies across the globe are turning to M&A to fulfill their ESG ambitions while investors seek the steep returns on offer -
As businesses race to catch up with the global ESG (environmental, social, and governance)...more
We set out below a number of interesting English and European court decisions and market developments which have taken place and their impact on M&A transactions. This review looks at these developments and gives practical...more
2/25/2022
/ Acquisitions ,
Breach of Contract ,
Breach of Duty ,
EFTA ,
European Court of Justice (ECJ) ,
LLPs ,
Mergers ,
Negligence ,
Share Sale and Purchase Agreements (SPAs) ,
Share Transfer ,
Unjust Enrichment ,
Warranties
Last year was nothing short of a rollercoaster ride for the SPAC market. While SPACs have long been a feature of financial markets, 2021 began with explosive growth in new listings, followed by a rapid cool-off in the second...more
2021 has been an exceptional year for the London Corporate team at White & Case, with a strong performance across the practice, including White & Case advising on nearly 50 deals involving publicly listed companies in the UK...more
1/5/2022
/ Acquisitions ,
Capital Markets ,
Coronavirus/COVID-19 ,
Environmental Social & Governance (ESG) ,
EU ,
Foreign Direct Investment ,
Investors ,
Mergers ,
Publicly-Traded Companies ,
Shareholders ,
Special Purpose Acquisition Companies (SPACs) ,
UK
Key Trends:
◾ Since August 2021, AGMs where shareholders were actively encouraged not to attend have become less common. Most companies are instead holding their meetings with physical attendance neither actively...more
Favorable valuations are fueling opportunistic purchases by overseas bidders-
Spiraling COVID rates, supply chain issues and food and fuel shortages have all hit the headlines in the months since the end of the Brexit...more
11/17/2021
/ Acquisitions ,
Bids ,
Buyers ,
Coronavirus/COVID-19 ,
Financing ,
Global Market ,
Investment ,
Investors ,
Mergers ,
Private Equity ,
Sellers ,
Supply Chain ,
Takeovers ,
UK
PE dominance -
Private equity and family offices are exerting increasing influence over public takeovers in the UK, with public to private transactions ("P2Ps") making up more than 2/3 of all bids in H1 2021 and...more
10/11/2021
/ Acquisitions ,
Bids ,
Disclosure Requirements ,
Going-Private Transactions ,
Mergers ,
Private Equity ,
Privately Held Corporations ,
Publicly-Traded Companies ,
Shareholders ,
Takeover Bids ,
UK
We set out below a number of interesting English court decisions and market developments which have taken place and their impact on M&A transactions. This review looks at these developments and gives practical guidance on...more
1. What is short selling and why is it controversial?
Short selling is the practice of betting that a listed company's share price will drop. This is typically effected by the person who is placing the bet (usually a hedge...more
Dealmaking within the PMB sector enjoyed an impressive start as companies across the globe embarked on their post-pandemic recovery -
The global pharma, medical and biotech (PMB) sector saw US$95.4 billion in deal...more
Although most SPAC activity is concentrated in the US, the boom in listings spells opportunities for European firms -
Amid the ups and downs in financial markets in 2020, the boom in activity in the special purpose...more
The Chartered Governance Institute (ICSA) recently issued a guidance note on "2021 general meetings and the impact of COVID-19", written with input from Martin Moore QC and the support of the Department of Business Energy and...more
One -
Latest data from the Investment Association has shown investors plunged nearly four times the amount of cash into responsible investment funds in 2020 than they did in 2019. Responsible investment funds saw net...more
Despite considerable volatility and uncertainty, 2020 has been an extraordinary year for the London Corporate team at White & Case, with a strong performance across the practice. We are pleased to have advised a large number...more
This briefing is the second in our series of briefings on corporate governance and is designed to provide a synopsis of topical corporate governance matters impacting companies in the United Kingdom. This briefing tracks the...more
11/30/2020
/ BEIS ,
Board of Directors ,
Coronavirus/COVID-19 ,
Corporate Governance ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Reporting ,
Modern Slavery Act ,
Publicly-Traded Companies ,
Reporting Requirements ,
SMCR ,
UK Competition and Markets Authority (CMA)
On 11 November 2020, the FCA published a review of delayed disclosure of inside information (DDII) by issuers under MAR as part of its latest Primary Market Bulletin newsletter.
As part of this review the FCA analysed all...more
On 11 November 2020, the government announced the details of its proposals for national security-based review of investments in the UK, in the form of the National Security and Investment Bill ("NSIB").
Protectionism is a...more
One
The Takeover Panel has announced today proposals to make substantial changes to the UK Takeover Code. These are the most significant changes to the Code since the September 2011 amendments in the wake of the...more
As companies look to plan their FY 2020 annual report and prepare for the 2021 AGM season, we have reflected on our experience in 2020. We summarise below key learnings and what we think will undoubtedly be on the agenda and...more
10/27/2020
/ Annual Meeting ,
Annual Reports ,
CIGA ,
Coronavirus/COVID-19 ,
Corporate Governance ,
Diversity ,
Environmental Social & Governance (ESG) ,
Executive Compensation ,
Pensions ,
Publicly-Traded Companies ,
Remuneration ,
Shareholder Activism ,
Shareholder Proposals ,
Shareholder Votes ,
Task Force on Climate-related Financial Disclosures (TCFD) ,
UK ,
UK Insolvency Act
Private equity-backed takeovers of listed companies in Western Europe have enjoyed several strong years, with deal value rising year on year from 2013 to reach a total of US$38.8 billion in 2019. Volume followed a similar...more