Oil and gas engineering consultancy John Wood Group said on Friday it has rejected a third takeover offer of £1.5 billion ($1.9 billion) from Sidara after concluding the sweetened bid "significantly undervalues" its business.
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TOP NEWS

John Wood Rebuffs £1.5B Takeover Bid Despite Sweetener

By Irene Madongo

Oil and gas engineering consultancy John Wood Group said on Friday it has rejected a third takeover offer of £1.5 billion ($1.9 billion) from Sidara after concluding the sweetened bid "significantly undervalues" its business.

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Addleshaw Guides Coventry's £780M Co-op Bank Deal

By Najiyya Budaly

Coventry Building Society has formalized plans to buy the Co-operative Bank for £780 million ($990 million), the lenders said in a joint statement Friday, a move they claim will create an institution better equipped to challenge larger high street names.

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CMA To Probe $295M Roche Diagnostics Deal

By Dawood Fakhir

Britain's antitrust regulator said Friday that it has decided to launch a probe into Swiss drugmaker Roche's proposed $295 million purchase of parts of diagnostic company LumiraDx days after inviting public feedback to assess if the deal could harm competition.

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Analysis

The UK Laws That Will Pass Or Fail As Election Looms

By Law360 Staff

Prime Minister Rishi Sunak's decision to call an early general election to be held on July 4 has left several pieces of legislation hanging in the balance during the so-called "wash-up" period before Parliament is formally dissolved, while others have been pushed through. 

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M&A

Investor CriteriaCaixa Buys Construction Biz Stake For €983M

By Irene Madongo

Spanish investor CriteriaCaixa said on Friday that it has purchased a 9.4% stake in construction and infrastructure firm ACS for €983 million ($1.1 billion), boosting its portfolio of investments.

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Viavi's £1B Offer For London-Listed Spirent Lapses

By Dawood Fakhir

Communications group Viavi said Friday that it is terminating its approximately £1 billion ($1.27 billion) offer that it made in March for telecom testing specialist Spirent after it let the offer period lapse this week by accepting a rival bid.

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LITIGATION

UK Litigation Roundup: Here's What You Missed In London

By Max Austin

This past week in London has seen an IT engineer seek permission to search a landfill hiding a hard drive supposedly storing millions of pounds in bitcoin, Glencore take on legal action by American Century Investments, gold payment app Glint bring a breach of duty claim against FRP Advisory, and an ongoing dispute between a solicitor and the Solicitors Regulation Authority. Here, Law360 looks at these and other new claims in the U.K.

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EXPERT ANALYSIS

How Gov't Response Addresses Investment Act Concerns

The government’s recently published response to a call for evidence on the National Security and Investment Act is largely appropriate to stakeholder concerns raised and demonstrates in its five areas of focus that it is willing to respond to live issues, say lawyers at Watson Farley.

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LAW FIRMS IN TODAY'S NEWS

Addleshaw Goddard

Clifford Chance

Clyde & Co

DWF LLP

Davis Polk

Eversheds Sutherland

Fieldfisher

Fox Williams

Freshfields

Fried Frank

Gateley PLC

Hamlins LLP

Hill Dickinson

Horwich Farrelly

Howes Percival

JMW Solicitors LLP

KaurMaxwell

Linklaters LLP

Pallas Partners

Paul Hastings

Penningtons Manches

Potter Clarkson

Reed Smith

Slaughter and May

Watson Farley

Wilkin Chapman

WilmerHale

COMPANIES IN TODAY'S NEWS

AXA SA

AXA XL Ltd.

Academy Sports & Outdoors Inc.

Agilent Technologies Inc.

Avolon Holdings Ltd.

Bayerische Motoren Werke AG

British Broadcasting Corp.

Cisco Systems Inc.

Co-operative Bank PLC

EMCOR Group Inc.

F. Hoffmann-La Roche Ltd.

Ford Motor Co.

Getty Images Holdings Inc.

Glencore PLC

Grupo ACS

HSBC Holdings PLC

JPMorgan Chase & Co.

John Wood Group PLC

Jubilee Holdings Ltd.

KPMG International

Keysight Technologies Inc.

London Stock Exchange Group PLC

Mediterranean Shipping Co. SA

NASDAQ Inc.

Nieuwe Steen Investments NV

Nokia Corp.

PACCAR Inc.

Paysafe Group PLC

Pegasus Capital Advisors LP

PetroChina Company Limited

QBE Insurance Group Ltd.

Rothschild & Co. SCA

Solicitors Regulation Authority Ltd.

Spirent Communications PLC

Swissport International Ltd.

UBS Group AG

Viavi Solutions Inc.

GOVERNMENT AGENCIES IN TODAY'S NEWS

Companies House

Competition Appeal Tribunal

Competition and Markets Authority

Financial Conduct Authority

HM Revenue & Customs

House of Commons of the United Kingdom

House of Lords of the United Kingdom

National Crime Agency

Prudential Regulation Authority

U.S. Department of Justice