In an interview with IFLR, White & Case partner Marc Israel discusses some UK-specific regulatory quirks when it comes to buying British companies and in particular the National Security and Investment (NSI) Law that came into force in January 2022 and is anticipated to change the game significantly for M&A activity in the UK.
"The NSI Act requires mandatory notification for some deals that needs to be taken into account, including as regards timing and the long-stop date," said White & Case London partner Marc Israel.
The NSI also expands on the types of transactions covered by national security reviews. It moves beyond mergers and acquisitions to include a much broader range of deals including minority investments, acquisitions of voting rights and acquisitions of assets – including land and IP.
"Although it is difficult to say whether or not these changes have deterred investment into the UK, our experience to date is that it has not," said Israel. Rather, the additional factors brought in by NSI should be taken into account in any transaction planning, he added.
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