Following on from our previous post on 22nd October 2020 (please see here), the UK Government have confirmed that a full consultation will be launched in early 2021 on potential precautionary powers to block company listings on UK stock exchanges on national security grounds in certain scenarios. The announcement has coincided with the recent introduction of the National Security and Investment (“NS&I”) Bill which significantly expands the UK Government’s powers to review the national security implications of transactions. For further information on the NS&I Bill please click here.
UK
UK Government consultation to ban companies from listing on LSE/FTSE on national security grounds
Author
Samantha J. Mobley
Samantha Mobley is a partner in the Competition, Trade and Foreign Investment department of Baker & McKenzie’s London office. She headed Baker McKenzie’s Global Antitrust and Competition Group, a team of over 300 competition and antitrust specialists worldwide for six years and is currently a leader in our Global Foreign Investment Practice. Samantha has significant experience of advising on complex multi-jurisdictional mergers and has a strong understanding of the importance of working effectively and strategically with global regulators. In addition to antitrust and merger control, she advises on the implications of foreign direct investment rules for cross-border transactions. On foreign investment matters, she works closely with our Tier 1 trade team, given their export control national security expertise. Samantha is ranked as an Eminent Practitioner for competition law, Chambers & Partners 2023.
Author
Nick O'Donnell
Nick O'Donnell is a partner in Baker McKenzie's Corporate Department in London. He has over 20 years' experience advising on a wide range of corporate finance transactions. He has spent time on secondment in senior legal positions with Morgan Stanley and, more recently, Goldman Sachs and has also previously been based in New York and the UAE. He is recognized in his field by The Legal 500 and by IFLR. He is regularly quoted and interviewed in the press on the market including, most recently, in the Sunday Telegraph, The Financial Times, Financial News and on CNBC.