David Weaver

David Weaver

Partner

David advises clients on all aspects of antitrust and foreign investment law, with a particular focus on obtaining UK and international merger control clearances on complex cross-border M&A.

David advises clients on all aspects of antitrust and foreign investment law, with a particular focus on obtaining UK and international merger control clearances on complex cross-border M&A. David is an experienced UK merger control adviser as well as experienced on multi-jurisdictional foreign investment and national security clearances, including routinely advising on substantive UK National Security and Investment Act approvals.

David’s clients are active across a wide range of sectors, and he has particular expertise in retail, technology and financial markets and extensive experience advising a range of private capital institutions on complex cross border investments.

David has experience as a legal adviser at the UK Competition and Markets Authority, advising on complex Phase 1 and Phase 2 mergers investigations. He has invaluable insight into CMA processes and ways of working that can inform strategic decisions for his clients. David has also spent time in the firm's office in Brussels.

Experience

Representative matters

Refinitiv and Blackstone on the USD27bn acquisition by London Stock Exchange Group, including the EU and worldwide antitrust clearances. A transformative deal creating a global digital infrastructure and financial services group.  

Cisco Inc on the global antitrust and foreign investment clearances for its USD 730m public offer for IMImobile PLC, and the USD 625m and USD 120m acquisitions of Accedian Inc and  SamKnows Limited.  

Tullett Prebon plc. on the global antitrust clearances of its GBP1.6bn acquisition of ICAP. Forming the world’s largest interdealer broker.  

Charterhouse Capital Partners on the merger control and UK national security review of its acquisition of Amtivo and several strategic acquisitions and continuation funds.  

Exponent Private Equity and portfolio company Photobox Group on its combination with the European photoprints business, Albelli to create the leading European online photo business.  

Sumo Group plc. on the merger control and foreign investment approvals on the USD 1.2bn recommended public offer by Tencent.  

Etsy Inc. on its USD1.6bn acquisition of online fashion resale marketplace, Depop.  

Marks and Spencer plc on its acquisition of the third party contract logistics operation of Gist Limited and it online retail joint venture with Ocado.  

American Tower Corporation on the European merger control and foreign investment screening aspects of its USD9.4bn acquisition of Telxius, the German and Spanish telecoms towers business of Telefonica.  

Kuehne + Nagel on its sale of its UK drinks logistics, food services and retail & technology businesses to XPO, including the review by the Competition and Markets Authority.  

Exponent Private Equity the antitrust and foreign investment approvals of its acquisition of International Flavors & Fragrances Inc.’s Flavor and Specialty Ingredients business, a leading supplier of synthetic and natural base aroma chemicals used in the flavour market for USD220m. 

Exponent Private Equity on the sale of the BBI Group (a medical diagnostics business) to Novo Holdings for an enterprise value of more than GBP400m and on the sale of BBI Healthcare (a consumer self-care business) to Venture Group plc.   

Kingfisher on the antitrust approvals of its acquisition through its subsidiary Screwfix Spares Limited of the business and assets of CDSL Group Limited and three of its subsidiaries.  

The Gym Group plc. on its acquisition of a portfolio of easyGym and Lifestyle Fitness gyms in the UK.

AviLease on the antitrust and foreign investment approvals of its USD3.6bn acquisition of Standard Chartered Bank’s global aviation leasing business, Pembroke Capital.  

eBay Inc. on its acquisition of NFT marketplace, KnownOrigin.   

Cobham plc. on its acquisition by Advent International, including with respect to the UK’s national security review of the transaction.

Lloyds Banking Group on the UK phase 1 clearance of its GBP1.9bn acquisition of MBNA to create the leading UK credit card business, and the creation of its GBP13bn wealth management JV with Schroders plc.  

Virgin Money on its GBP4.4bn acquisition by the Clydesdale and Yorkshire Bank Group.  

Pennon Group plc. on its sale of Viridor (its residual waste management and recycling business, including its energy from waste assets) to KKR & Co Inc. for GBP4.2bn.  

Naked Wines plc. on its sale of its Majestic Wine retail business.  

3i Group plc. on the merger control and national security screening approvals of its acquisition of subsea cable operator, Global Cloud Xchange.  

CityJet on its joint venture with Air Nostrum to create the largest pan-European regional airline group.  

A U.S. technology company on matters related to a European Commission Article 101 / 102 investigation.  

Park Garage Group on its purchase of 27 petrol stations as the divestment purchaser following the CMA’s review of Asda’s acquisition by the Issa Brothers and TDR Capital for EG Group.  

Seven Trent Water plc. on the regulatory and UK merger control aspects of its joint venture with United Utilities, which combined both parties’ non-household retail operations and on its GBP78.5m acquisition of Dee Valley Water, the first water merger to be cleared at Phase 1 in the UK.  

Borealis Infrastructure and Wren House Infrastructure on the merger control and water utility regulatory aspects of their acquisition of a 26.315% stake in Thames Water from Macquarie, including in relation to the impact of Thames Water’s conditions of Appointment on the transaction.  

AMP Capital on its acquisition of a 49% shareholding in London Luton Airport and its full acquisition of Leeds Bradford Airport. A consortium of banks comprising BBVA, CIBC, NatWest, Itau, UBS, Standard Chartered, SMBC and BNP Paribas on the antirust aspects of the establishment of Carbonplace Limited, the holding company of a newly established group operating a global carbon.

Pro bono

David is a frequent mentor to young people. David regularly participates in the award-winning Smart Start and Future Frontiers programmes.

Published Work

  • “Rising tide of ‘Fix-it-first’ and ‘Up-front Buyer’ remedies in EU and UK merger cases”, Allen & Overy LLP, September 2016.
  • “UK merger control: A toughening of the voluntary regime?”, Allen & Overy LLP, July 2019
  • “How should antitrust authorities investigate deals that threaten potential competition? Nascent competition in the UK – all about the potential”, Allen & Overy LLP, July 2021
  • “The National Security and Investment Act 2021: A Snapshot of experience so far”, Allen & Overy LLP, September 2022 

Qualifications

Admissions

Solicitor, England & Wales, 2015

Academic

MA (Oxon), Jurisprudence, University of Oxford, The Queen’s College, 2011
Disclaimer
A&O Shearman was formed on May 1, 2024 by the combination of Shearman & Sterling LLP and Allen & Overy LLP and their respective affiliates (the legacy firms). Any matters referred to above may include matters undertaken by one or more of the legacy firms rather than A&O Shearman.