23 September 2019 - 29 September 2019

25th September 2019
Law firm partnerships

Back to Basics: Law Firm Partnerships

UK commercial law firms have long been run as partnerships. Partners band together, sharing the benefits and risks of running a law firm. These partnerships resemble a pyramid. At the bottom, you have a large number of juniors. As you move up the structure, the number of lawyers decreases, while the pay and seniority increases. The incentive is that you work your way up to become one of […]
25th September 2019
cobham takeover

The Government’s Intervention in Cobham’s Takeover and National Security Review Regimes

Last week, the British government intervened in the takeover of aerospace and defence group Cobham by US private equity firm Advent International, to assess whether there are national security concerns. Impact on Businesses and Law firms  It is possible to see this intervention as an example of the trend towards increasing regulatory scrutiny in M&A, particularly with regards to foreign investments (i.e. when a domestic company is being […]
25th September 2019
Airbnb plans to go public

Airbnb Plans to Go Public

Last week, Airbnb announced its plans to go public ‘during 2020’ just a day after it reported more than $1bn in revenue for the second quarter of 2019. The company had already raised speculation that it intended to list back in March 2019, but the recent announcement has given the market a more clearly defined intention. There has been little information beyond this; it is still unclear how […]
25th September 2019
Thomas Cook Collapse

Thomas Cook’s Collapse

On Monday, Thomas Cook, the UK’s oldest travel company went into compulsory liquidation after it failed to agree a rescue deal with lenders, shareholders and the UK government. The travel company’s shares had tumbled in recent years, as it failed to adapt to massive shifts in the travel industry and ran into huge profitability and cash flow issues. When it realised that it was on the brink of […]

16 September 2019 - 22 September 2019

18th September 2019
interest rate cut

The European Central Bank’s Latest Stimulus Package

Last Thursday, the European Central Bank (ECB) cut its baseline interest rate to -0.5% and announced that it will resume its quantitative easing programme (QE), buying European government and company bonds every month from November 2019 until inflation expectations come “sufficiently close to, but below, 2%”. Impact on Businesses and Law firms  The ECB’s stimulus package comes amid concerns that the Eurozone economy is headed towards a recession: […]
18th September 2019
London Stock Exchange

The HKEX’s Unsolicited Bid to Acquire the LSEG

Last week, the Hong Kong Exchanges and Clearing (HKEX) made a £32bn offer to acquire the London Stock Exchange Group. HKEX hopes to use a potential acquisition to connect Chinese capital markets with the rest of the global financial system. A successful acquisition of the LSE would make HKEX the largest exchanges operator in the world by revenues. The London Stock Exchange, which was taken unawares by the […]
18th September 2019
WeWork IPO

WeWork Shelves IPO

Late on Monday, it was decided that WeWork would not pursue its seemingly imminent IPO until potentially later this year, despite there having been plans to price and list its shares as early as next week. It has been reported that the postponement is due to investors’ fears about the co-founder, CEO Adam Neumann, having too much control over the business, as well as the business’s operating losses. […]
18th September 2019

Back to Basics: The Swiss Verein

Over the past decade, many of the major cross-border mergers have adopted a structure called a Swiss verein. It’s a structure that has made many firms – including DLA Piper, Dentons, Hogan Lovells, KWM, Norton Rose Fulbright – who they are today. A Swiss verein allows for rapid international expansion. Firms ‘merge’ in the sense that they combine under the same brand, however they keep the finances and […]
18th September 2019
Saudi Arabia Oil

Saudi Arabia Oil Attacks

On Monday, stocks of oil companies across the USA and Asia-Pacific increased. This led to oil prices rising by nearly 20% at some point, following two drone attacks over the weekend that hit Saudi Aramco’s oil production facilities in Abqaiq (the world’s largest oil plant) and Khurais. The attacks led to Saudi Arabia suspending 5.7 million barrels of daily crude production, equating to 50% of Saudi’s oil output […]