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Horizon Scanning: Investigations and Enforcement
In this horizon scan, we focus on key developments affecting companies operating in the UK, including in light of the recent change in UK government.
On September 26, the parent company of the Chicago Board Options Exchange announced the $3.2 billion acquisition of Bats Global Markets, a high-tech stock exchange founded 11 years ago. Of course, a multi-billion dollar merger transaction is little news to the New York legal market these days. Still, the CBOE-Bats deal is a timely reminder of the existence of a vibrant financial technology (“fintech”) sector largely based in New York.
The fintech industry has gone through several waves of M&A activity over the last two decades. Internet-enabled consumer services, online banks, stock exchanges and trading platforms have all seen sector consolidation—and also fragmentation. These transactions have remade important components of the financial services sector. To put the Bats transaction in context, a global wave of stock exchange consolidation at the end of the last decade was partly due to a new wave of competitors— including Bats—coming into the market since 2000.
Read the full article: Fintech A new MA frontier
Publication
In this horizon scan, we focus on key developments affecting companies operating in the UK, including in light of the recent change in UK government.
Publication
On 3 September 2024, the ECJ delivered its judgment in Illumina’s appeal against the General Court’s (GC) judgment confirming the European Commission’s (EC) powers to review concentrations under the EU Merger Regulation (EUMR) in circumstances where no Member State has jurisdiction under national law.
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