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Corporate Sales Transactions United Kingdom

Skadden, Arps, Slate, Meagher & Flom LLP

Europe Increasingly Turns to Special Committees in Transactions Involving a Controlling Shareholder

A takeover offer from a controlling shareholder presents a challenge to boards of directors who are tasked with protecting minority shareholders, particularly where some of the directors on the board may have relationships or...more

A&O Shearman

UK National Security and Investment Act: key takeaways from second annual report

A&O Shearman on

The second annual report on the functioning of the UK’s investment screening regime has been published. We highlight the key points....more

Proskauer Rose LLP

UK National Security and Investment Act 2021 (NSIA) – Annual Report 2022

Proskauer Rose LLP on

The UK Government recently published its Annual Report on the application of the National Security and Investment Act 2021 (NSIA). This first annual report covers the period from the commencing of the NSIA (4 January 2022) to...more

Dechert LLP

Takeover Panel publishes notes to advisers in relation to Rule 2.8 statements and disclosure of information under Rule 9

Dechert LLP on

On 24 March 2022, the Takeover Panel (the “Panel”) issued a note to advisers on disclosure of information under Rule 9 of the Takeover Code (the “Code”) and a note to advisers in relation to Rule 2.8 statements. Such notes do...more

Dechert LLP

UK Life Sciences and Healthcare Newsletter - January 2022

Dechert LLP on

Dechert partnered with Practical Law on their Q&A guide to mergers and acquisitions (M&A) in the life sciences sector, with a focus on pharma and medicines. The second part of the Q&A provides a high-level overview of the...more

Cadwalader, Wickersham & Taft LLP

The UK’s National Security & Investment Act

The newly enacted National Security and Investment Act 2021 (the “Act”) introduces a broad regime enabling the Government to intervene in M&A transactions on the grounds of national security. ...more

Hogan Lovells

UK National Security and Investment - now is the time to Act

Hogan Lovells on

The UK’s much publicised National Security and Investment Bill has now been granted Royal Assent – passing into law an Act which will significantly affect the way investments in the UK can be reviewed by the Government where...more

BCLP

Pre-packaged administration sales to face greater scrutiny as new regulations come into effect

BCLP on

A new set of regulations known as the Administration (Restrictions on Disposal etc. to Connected Persons) Regulations 2021 (SI 2021/427) (the “Regulations”) came into effect on 30 April 2021. The Regulations contain numerous...more

Hogan Lovells

UK: The National Security and Investment Act receives royal assent

Hogan Lovells on

Watch out for the National Security and Investment Act which has now received royal assent although it is still not expected to come fully into force until this Autumn due to the amount of secondary legislation that needs to...more

Hogan Lovells

Takeover Panel response statement (2020/1): conditions to offers and the offer timetable

Hogan Lovells on

The Takeover Panel has just published its response statement (2020/1) making important changes to the Takeover Code regarding offer conditionality and timetable. They take effect on 5 July 2021 and will apply in relation to...more

Hogan Lovells

Warranty and indemnity insurance – "do"s and "don't"s

Hogan Lovells on

Warranty and indemnity insurance (W&I) in recent years has become a customary aspect of private equity and other M&A transactions, with investors well aware of the deal-enabling benefits (in particular, the transfer of risk...more

Hogan Lovells

The rise of FDI regimes and their impact on M&A transactions

Hogan Lovells on

Foreign direct investment ("FDI") is an important part of the global economy: OECD data indicates that there was USD$1,426 billion of global FDI in 2019. In recent years, governments around the world have shown an increasing...more

Robins Kaplan LLP

Financial Daily Dose 12.9.2020 | Top Story: DoorDash Makes Public Trading Debut North of $100/share

Robins Kaplan LLP on

DoorDash is entering the public markets fray today with hopes of “cash[ing] in on the frenzy in initial public offerings” of late. The food-delivery company is expected to price shares “at the high end of or above its...more

Dechert LLP

UK Life Sciences and Healthcare Newsletter - December 2020: Market News

Dechert LLP on

Recent notable industry transactions. The Alan Turing Institute, the Royal Statistical Society and the UK Department of Health and Social Care's Joint Biosecurity Centre finalised a partnership agreement in relation to the...more

Hogan Lovells

Beyond Brexit transition - The impact on corporate law and corporate transactions

Hogan Lovells on

Any deal is unlikely to have a significant impact on the laws which directly govern companies and transactions but dealmakers will need to understand the implications of issues such as merger control and data transfers. That...more

Orrick, Herrington & Sutcliffe LLP

The National Security & Investment Bill 2020: A step change in the UK's screening of foreign investment

Wednesday the UK government introduced the National Security and Investment Bill (the "Bill") to Parliament. The Bill strengthens the government’s power to scrutinise, impose conditions and block foreign investments into...more

A&O Shearman

National Security and Investment Bill: a new frontier for scrutiny of investment in the UK

A&O Shearman on

On 11 November 2020 the UK Government published its groundbreaking National Security and Investment Bill (Bill). The Bill will drastically expand the Government’s powers to scrutinise investment on national security grounds,...more

Morgan Lewis

Updates to the CMA’s Merger Guidance Documents (CMA2 and CMA56) Following Brexit

Morgan Lewis on

The UK’s Competition and Markets Authority (CMA) on 6 November published draft updates to two of its merger guidance documents (CMA2 and CMA56) in preparation for the end of the Brexit Transition Period on 31 December 2020....more

A&O Shearman

UK merger control: draft revised guidance indicates CMA’s tough approach set to continue

A&O Shearman on

UK merger control policy and practice has evolved significantly in recent years.  The Competition and Markets Authority (CMA), gaining a reputation as one of the toughest merger control enforcers in the world, has been at...more

Hogan Lovells

Second time lucky: pre-pack reform in the UK

Hogan Lovells on

On 8 October 2020, the Insolvency Service published the outcome of its review of industry reforms to pre-pack sales in administration and made recommendations which will impact the way in which pre-pack sales to connected...more

Morgan Lewis

New UK Powers in Transactions Impacting National Security

Morgan Lewis on

The UK government passed reforms on 21 July 2020 lowering the thresholds to intervene in mergers and acquisitions considered relevant to UK national security in the artificial intelligence, cryptographic authentication, and...more

Hogan Lovells

UK merger control: Public health emergencies and foreign takeover scrutiny

Hogan Lovells on

New measures, announced on 21 June 2020, will allow the UK Government to intervene in relation to transactions involving businesses with "critical capabilities" to help combat public health emergencies, such as coronavirus. ...more

Skadden, Arps, Slate, Meagher & Flom LLP

UK Amends Enterprise Act 2002 To Protect Businesses Critical to Addressing Public Health Emergencies, Extends Powers To Protect...

In recent months, European states have raced to implement protections against opportunistic acquisitions of key local businesses by foreign buyers amid the economic disruption caused by the spread of COVID-19. ...more

Hogan Lovells

UK insurance M&A following COVID-19

Hogan Lovells on

We are living in volatile times. As a consequence of the COVID-19 virus, our equity and high-yield markets have witnessed large swings, making it difficult to value assets. Uncertainty over the timing and extent of the...more

Orrick - Antitrust Watch

Another Reminder That the UK Merger Control Regime Is More Than Just Voluntary

On 6 August 2019, the UK’s Competition and Markets Authority (the “CMA”) imposed an ‘Unwinding Order’ on a U.S. company, Bottomline Technologies (de), Inc (“Bottomline”), active in the business payment automation technology...more

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