Land Securities plc’s £190 Million Offer for U and I

In UK Norton Rose Fulbright, Slaughter and May, advised on the matter.

Norton Rose Fulbright advised UBS Investment Bank with a team including Paul Whitelock (Equity Capital Markets), James Dunnett (Finance).

Slaughter and May advised Land Securities Group with a team including Victoria MacDuff (Equity Capital Markets), Richard Smith (Picture – Equity Capital Markets), Claire Cooke (Finance), Ed Fife (Finance).

UBS Investment Bank acted as financial adviser to Land Securities plc on its c. £190 million recommended cash offer for U and I Group plc (U and I).  Under the terms of the offer, U and I shareholders will receive 149 pence per share in cash.

Land Securities Group is a constituent of the FTSE100 index and one of the leading real estate development and investment companies in the United Kingdom. U and I is a property developer and investor focused on complex, mixed-use regeneration in London, Manchester and Dublin, creating socially and economically sustainable places where people can live, work and socialise. The acquisition would add attractive core regeneration assets to the Land Securities Group’s development pipeline.

Slaughter and May’s team included Richard Smith (Picture), Partner, Victoria MacDuff, Partner, Valerie Kemp, Associate, Kate Morrison-Betts, Associate, Philippa Mosley, Associate, Jake Jones, Trainee, Henry Alexander, Trainee, Helen Byrne, Trainee, Adrian Burbie, Trainee, Miles Mason, Trainee, William Taylor, Trainee, Ed Fife, Partner, Claire Cooke, Partner, Christopher McCabe, Associate, Adam Waring, Trainee, Ian Brown, Senior Counsel, Philippa O’Malley, Associate, Chloe Sanderson, Associate, Ben Redding, Associate, Emma Reynolds, Associate, Murray Reeve, Associate and Rosie Duthie, Trainee.

Slaughter and May supported Landsec’s in-house legal team led by Alex Peeke (Head of Legal) and Liz Miles (Head of Governance and Company Secretary).

The London-based Norton Rose Fulbright team is being led by corporate partner Paul Whitelock with support from associate Alexandra Simpson. Banking partner James Dunnett and counsel Ksenia Orlova provided further support on the financing side.

Involved fees earner: James Dunnett – Norton Rose Fulbright; Ksenia Orlova – Norton Rose Fulbright; Alexandra Simpson – Norton Rose Fulbright; Paul Whitelock – Norton Rose Fulbright; Ian Brown – Slaughter and May; Claire Cooke – Slaughter and May; Ed Fife – Slaughter and May; Valerie Kemp – Slaughter and May; Victoria MacDuff – Slaughter and May; Christopher McCabe – Slaughter and May; Kate Morrison-Betts – Slaughter and May; Philippa Mosley – Slaughter and May; Philippa O’Malley – Slaughter and May; Ben Redding – Slaughter and May; Murray Reeve – Slaughter and May; Emma Reynolds – Slaughter and May; Chloe Sanderson – Slaughter and May; Richard Smith – Slaughter and May;

Law Firms: Norton Rose Fulbright; Slaughter and May;

Clients: Land Securities Group; UBS Investment Bank;

Author: Giulia Di Palma