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Briefing Notes
M&A
GSK in talks to acquire US oncology biotech Nuvalent for more than $9 billion in largest deal in over a decade
A $9bn pharma deal signals PE-era premiums are now baseline for late-stage oncology assets.
Regulation
CMA opens phase one merger inquiry into eBay's $1.2 billion acquisition of Depop with an August deadline
The CMA's phase one opening sets a hard August deadline — miss it and the parties face phase two, which typically takes nine months.
Disputes
US tariff refund dispute heads to the Federal Circuit as Customs prepares $166 billion importer refund system under court supervision
A $166 billion tariff refund dispute sets the template for how courts administer mass trade remedy claims — a model that may travel.
AI & Law
In-house legal leaders say AI is now standard in legal departments but guardrails over outside counsel data use lag behind adoption pace
Client data governance requirements are now a panel-qualification threshold — not just a preference — for major corporates' law firm relationships.
Banking & Finance
FCA proposes rule changes to widen mortgage access for UK borrowers as part of consumer lending reform
FCA mortgage rule reform creates direct compliance mandates for every regulated UK lender — not just optionality.
Energy & Tech
TCS Launches AI-Native Global Capability Centre Unit as European Grid and Clean Tech Deal Activity Hits Record Highs
AI-native GCCs are rewriting what an outsourcing contract actually covers.
International
Clifford Chance formalises 'local partner' tier with seven new appointments across its global offices
Tiered partnership structures are how Magic Circle firms compete for senior talent without dismantling lockstep economics.