Veritas Capital to acquire Bodycote.

The people side in the United Kingdom

• In a business transfer or service provision change, staff move to the buyer on their existing terms; a dismissal solely or mainly because of the transfer is unfair. Transfer of Undertakings (Protection of Employment) Regulations 2006, regulations 4 and 7
• Long enough before a TUPE transfer, the employer informs staff representatives and consults on any measures envisaged; failure can cost up to 13 weeks' pay per affected employee. Transfer of Undertakings (Protection of Employment) Regulations 2006, regulations 13 and 16
• Acas guidance says TUPE is not likely to apply to a transfer of shares only, as in a share deal. Acas: TUPE, advice for employers and employees
• Buying over 25% of an entity in one of 17 sensitive areas in the UK needs approval before completion, or the deal is void; the first review takes up to 30 working days. GOV.UK: Check if you need to tell the government about an acquisition that could harm the UK's national security (National Security and Investment Act 2021)
• A business that starts employing staff in the UK registers with HMRC as an employer before the first payday, and not more than 2 months before it starts paying people. GOV.UK: Register as an employer