On 26 August 2025, the Financial Conduct Authority approved the London Stock Exchange as the first operator of a PISCES. PISCES is the world’s first regulated private stock market that ...
Davis Polk partner and Europe practice head Will Pearce, partner Gordon Milne and counsel Joe Scrace authored “What new UK stub equity rules will mean for PE bidders” in Law360. In th...
The Takeover Panel has published a new Practice Statement on unlisted share alternatives, commonly referred to as “stub equity” offers. This update summarises the key points from the ...
The UK Financial Conduct Authority recently published its final rules for the Private Intermittent Securities and Capital Exchange System, a new regulatory framework under which operators...
Davis Polk partner and Europe practice head Will Pearce, partner Gordon Milne and counsel William Tong authored “What latest VC model document revisions offer UK investors” in Law360....
Following a review involving its legal committee and experts from the venture capital and legal community, the British Private Equity and Venture Capital Association has recently updated ...
With changes to the scope of the Takeover Code taking effect today, this update recaps Takeover Code developments and key trends in UK takeover activity over the last 12 months.
On 1, November 2024, the FCA issued finalised guidance on the UK change in control regime. The guidance outlines the expectations for identifying controllers, submitting change in control...
The Takeover Panel is narrowing the scope of companies subject to the Takeover Code. The amendments will refocus the application of the Code on companies registered in the UK, the Channel...
Davis Polk partner and Europe practice head Will Pearce, partner Gordon Milne and counsel William Tong authored “Achieving a successful exit through an auction process in today’s mark...
