Auction meaning

Auction sale (private M&A) transactions—checklist This Checklist sets out the principal steps to undertake in an auction-led share or asset sale within the sphere of private M&A transactions, while also identifying the additional matters that emerge for the lawyers representing both seller and buyer as a consequence of an auction process...

Refer to the flowchart below for a decision pathway clarifying when establishing a joint venture falls under the EU Merger Regulation, outlining scope and applicability...

Antitrust The application in Case C-60/25 Livronsa has now been published, an Italian national reference asking whether national courts must regard the Euribor manipulation evidence confirmed by the Commission and the Court of Justice as conclusive, and whether the ensuing competition restriction applies only to the derivatives market or instead to all markets that use the manipulated Euribor benchmark—see also the application The General Court has recently issued an order in Case T-413/21 Feralpi v Commission, an action lodged against the Commission for failing to pay Default Interest as required by the General Court in Cases C-85/15 Feralpi v Commission...

In this issue: Electricity and gas market regulation and licensing Networks and grid connections Renewable energy Capacity Market, balancing services and system flexibility Air emissions, efficiency and climate change International energy Daily and weekly news alerts New and updated content Dates for your diary Trackers Energy resources on Lexis+® Electricity and gas market regulation and licensing DESNZ has opened a consultation to strengthen Energy Ombudsman (EO) powers. It will concentrate on complaints from domestic energy suppliers, small enterprise complaints against non-domestic suppliers, and heat network complaints. Electricity and gas networks and third-party intermediaries will instead be consulted on separately. The plans include shortening the escalation period for complaints from eight to four weeks, allowing automatic compensation where EO decisions are not put into effect promptly, and granting the EO a statutory designation. DESNZ has also stated that Ofgem will regulate third‑party intermediaries, including energy brokers and price comparison sites, which have previously operated...

In this issue: Key developments and materials Electricity and gas market regulation, licensing and taxation Renewable energy Capacity Market, balancing services and energy system flexibility Hydrogen, CCUS and emerging technologies Nuclear energy Planning issues in energy projects Air emissions, efficiency, and climate change New and updated content Dates for your diary Trackers Energy resources on Lexis+® Daily and weekly news alerts Key developments and materials DESNZ announces accelerated measures to boost UK energy security DESNZ has unveiled a suite of actions to reinforce and speed up the UK’s energy security in light of events in the Middle East. For the first time, ‘plug-in solar’ will be permitted in the UK. The department plans to advance the next annual renewables auction to July 2026 and has confirmed that the government will adopt the Fingleton Review’s recommendations to hasten delivery of nuclear power stations. It has also moved to safeguard consumers, working...

Buying at auction Securing a property at auction brings several advantages over purchasing on the open market: you could obtain the property at a favourable price the auction route is swift lots at auction often present scope for improvement and adding value if the property is tenanted, income can be received from completion A buyer faces funding risk if a mortgage is needed for the completion monies. The contract becomes binding the instant the hammer falls and, therefore, if an unconditional mortgage offer for the purchase is not in place before the auction, the buyer carries the risk. Legal pack The seller’s legal advisers prepare a legal pack for the lot...

Auction processes Auction processes are pivotal in particular industries; for example, in private equity, in government privatisations, and in other large‑value transactions, where they remain central to those transactions. Selling shares by way of auction is intended to trigger competitive bidding for the target among interested parties, achieving both the highest achievable price and securing the best possible terms. For the seller, there is strong certainty that completion will occur with a preferred bidder (which is preferable from management’s point of view). Auctions may involve numerous bidders, or be narrowed and targeted to a selected few bidders only. This will generally depend on the market in which the target company operates and the nature of its business, that is, the market it operates in and its business’s nature. Typically the seller directs the auction and appoints advisers to act for it—for instance, an investment bank—to promote the sale of the target on the seller’s behalf...

This Practice Note considers the position regarding the diligence of attachment in Scotland This note addresses how attachment operates within Scottish diligence, setting out the relevant position and context. For further guidance: on other types of diligence in Scottish civil procedure, consult Practice Note: Enforcement in Scottish civil litigation, which in turn connects to detailed guidance on a number of forms of diligence available in Scotland on the counterpart in England and Wales, see Introduction to enforcement—overview, which provides a general outline and links to more detailed guidance on various aspects of domestic enforcement in England and Wales on cross-border enforcement, refer to Practice Note: Cross-border enforcement—a guide for dispute resolution practitioners, which offers an overview and signposts more detailed guidance on multiple aspects of cross-border enforcement This Practice Note does not address land attachment or residual attachment; for those, see Practice Note: Adjudication for debt in Scottish civil litigation—anticipated future developments. In 2020, the Scottish Government commenced a policy review...

Landlord and Tenant Act 1987, section 5B OFFER NOTICE To: [ [ name of tenant ] OR [ name of the qualifying tenant of flat [ insert flat number ] ] ] of [ address of flat ] PLEASE NOTE: THIS NOTICE SETS OUT IMPORTANT LEGAL RIGHTS FOR YOU AND OTHER QUALIFYING TENANTS UNDER THE LANDLORD AND TENANT ACT 1987 (LTA 1987). YOU SHOULD SEEK IMMEDIATE LEGAL ADVICE ABOUT IT. We, [ name and address of landlord's agents ], acting for [ name and address of landlord or mortgagee exercising power of sale ] (the 'Landlord'), hereby notify you as follows: This notice is served pursuant to sections 5 and 5B of the LTA 1987 and concerns [ describe the building containing flats affected by the proposed disposal ] (the 'Building') within which the flat you rent is located. The Landlord holds [ the freehold of OR a leasehold interest in ] the Building [ pursuant to a lease dated [ date ]...

Auction sale process letter—private M&A Letterhead of corporate finance advisors [ Insert name of recipient ][ Insert address of recipient ][ insert date ] Dear [ insert name ] Sale of [ Insert name of company or business ] (target) We attach copy number [ insert number ] of a confidential information memorandum ( Information Memorandum ) relating to the Target for your review and consideration. The Information Memorandum is furnished to you in commercial confidence and pursuant to the confidentiality [ letter OR agreement ] you executed on [ insert date ], a duplicate of which is enclosed as well. The Information Memorandum has been, or will be, distributed to a limited selection of other parties, each of whom will be subject to equivalent confidentiality obligations. The intention of the Information Memorandum is to enable you, and those other parties, to determine whether to commence negotiations to purchase [ the whole of the issued share capital of the Target [ or part thereof ]...

This Agreement is dated [ insert day and month ] 20[ insert year ]. Parties [ Insert name of selling corporate shareholder ], incorporated in [ England and Wales OR [ insert country of incorporation ] ], with registered number [ insert company number ], whose registered office is at [ insert address ] (the Seller); and [ Insert name of purchasing corporate entity ], incorporated in [ England and Wales OR [ insert country of incorporation ] ], with registered number [ insert company number ], whose registered office address is at [ insert address ] (the Buyer). [ Each of the Seller and the Buyer is a Party, and together the Seller and the Buyer constitute the Parties. ] BACKGROUND (A) The Company (as defined below) is a private company limited by shares, incorporated in [ England and Wales OR [ insert country of incorporation ] ]. The Company’s particulars are set out in Schedule 1. (B)...