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Christine Graham

Christine Graham

Partner

London

T: +44 (0) 20 3400 4291

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Biography

Christine is a Partner in the firm's global Antitrust and Trade Team. Christine regularly advises clients on global multijurisdictional merger control and foreign direct investment (FDI) reviews, with a particular focus on obtaining clearances before the UK and EU authorities. 

In addition to her expertise in merger control and FDI matters, Christine has significant experience of advising clients on antitrust compliance, notably in respect of distribution licensing arrangements, as well as on cartel investigations. 

Christine is widely recognised in the fields of antitrust and FDI. She is listed in the EU and competition category of The Legal 500 UK and is regarded as an “excellent leader in her field”. Christine is Vice-Chair of the ABA Antitrust Foreign Investment and National Security Committee, co-founder of the EU FDI Association and a member of the UK government’s expert panel on the UK national security and investment screening regime. Her insights on FDI and competition law are regularly featured in leading publications and speaking engagements.

Civic Involvement & Honors

  • The Legal 500 UK 2021: EU and Competition
  • Who’s Who Legal: Foreign Investment Control
  • Lexology Index - Foreign Investment Control: Recommended 

Professional Affiliations

  • American Bar Association (ABA) Antitrust Law Section Committee on Foreign Investment and National Security – Vice chair
  • Competition Law Association
  • Law Society, Competition Section

Admissions

  • England and Wales

Related Capabilities

Aerospace & Defense Aerospace & Defense

  • Aerospace & Defense

Experience

  • Advising a healthcare investment firm, on its definitive merger agreement with a UK medical equipment manufacturer;
  • Advising a biotechnology company, on its $2.7 billion acquisition by a leading global pharmaceutical company;
  • Advising an Ireland-based biopharmaceutical company, on its $1.48 billion sale to an Italian global pharmaceutical company;
  • Advising a global digital marketplace connecting vehicle buyers and sellers, on its agreement to sell to a construction equipment auctioneer for approximately $7.3 billion;
  • Advising a world leader in modern, cloud-based connected workplace solutions, on its definitive agreement to be acquired by a global climate innovator;
  • Advising a specialty biopharmaceutical company, on its agreement to be acquired by an American biopharmaceutical company for approximately $28 billion;
  • Advising a biopharmaceutical company, on its agreement to be acquired by a global pharmaceutical and biotechnology company for approximately $1.8 billion;
  • Advising a clinical-stage company developing innovative potential therapies for the treatment of several immuno-inflammatory diseases, on its definitive agreement to sell to a leading American multinational pharmaceutical company for $6.7billion;
  • Advising a leading provider of cloud-based infrastructure for cryptocurrency security, on its agreement to sell to an American multinational online payment company;
  • Advising a global leader in digital consumer intelligence and social media listening, on its agreement to sell to a public relations, marketing and social media management technology company, for $450 million;
  • Advising is an American interactive data visualization software company (Tableau) on its agreement to sell to a cloud-based software company in a $15.7 billion all-stock transaction;
  • Advising an American computer software company on its sale to a global American technology company in an approximately $2.6 billion all-cash transaction;
  • An investment consultancy firm in response to the UK Financial Conduct Authority’s asset management market study and subsequent market investigation by the UK Competition and Markets Authority;
  • A subsidiary of a supermajor on its competition law pleadings before the High Court in relation to the termination of a suite of agreements relating to the production and transportation of gas from offshore fields to the UK National Transmission System;
  • A leading pharmaceutical manufacturer in a European Commission investigation into the supply of medicines;
  • A large telecommunications operator on an appeal before the UK Competition Appeal Tribunal in relation to fair access to infrastructure and margin squeeze claims and;
  • Various companies on merger control filings before the European Commission and the CMA

Related Insights

Insights
Nov 24, 2025

Unlocking Value in UK Data Centre M&A Transactions

This is the fourth in a ten-part series exploring the critical legal strategies shaping the future of data centre development in the UK. The United Kingdom’s data centre market is undergoing a profound transformation. A forecast surge in demand for data centre capacity—driven by advancements in AI, cloud computing, and digital services—is expected to outstrip supply, even with recent government initiatives aimed at accelerating development. Key constraints remain, including lengthy grid connection timelines and a complex, often polarised planning system.  At the same time, data centres continue to attract long-term capital—including pension funds, sovereign wealth funds, infrastructure funds, and REITs—thanks to their predictable, inflation-linked returns. Private equity investors have also been highly active, drawn by strong growth prospects and opportunities to consolidate fragmented markets. These dynamics have pushed valuations to record highs and sustained strong demand for UK data centre M&A, defying the slowdown in other real estate sectors post-pandemic. Against this backdrop, data centre M&A transactions are not merely high-value real estate deals; they demand familiarity with operational infrastructure, advanced technology, long-term service contracts, and complex regulatory issues. Executing such transactions successfully requires integrated expertise across M&A, energy, real estate, technology, regulatory, and finance. Understanding the legal and commercial anatomy of these deals is paramount for unlocking maximum value and mitigating inherent risks.
Insights
Oct 07, 2025

Spotlight on the UK’s NSI regime

It’s been over three years since the UK’s National Security and Investment (NSI) regime came into force. Since then, the regime has remained largely unchanged, with several attempts over the period to increase the transparency and clarity of the regime through the publication of Annual Reports and market guidance notes. On 22 July 2025, the UK Government announced three significant updates to the regime: A 12-week consultation on proposed reforms to the 17 sectors that give rise to mandatory notification; An announcement that certain types of transactions (notably in respect of internal reorganisations) would be removed from the scope of the NSI regime; and The publication of its fourth Annual Report on the operation of the regime. Together with the Government’s Industrial Strategy and National Security Strategy, these updates reflect the Government’s efforts to ensure that the NSI regime keeps apace with growing national security threats while at the same time promoting investment in line with the Government’s broader growth agenda. For investors and corporates active in the UK, these developments are important: they highlight where the focus of the Government is shifting, how the regime is operating in practice and the implications for deal execution. Below we consider the main reforms proposed and the impact for businesses.

Related Insights

Insights
Dec 15, 2025
European Commission Publishes Fifth Annual Report on FDI Screening In The EU
Insights
Nov 24, 2025
Unlocking Value in UK Data Centre M&A Transactions
This is the fourth in a ten-part series exploring the critical legal strategies shaping the future of data centre development in the UK. The United Kingdom’s data centre market is undergoing a profound transformation. A forecast surge in demand for data centre capacity—driven by advancements in AI, cloud computing, and digital services—is expected to outstrip supply, even with recent government initiatives aimed at accelerating development. Key constraints remain, including lengthy grid connection timelines and a complex, often polarised planning system.  At the same time, data centres continue to attract long-term capital—including pension funds, sovereign wealth funds, infrastructure funds, and REITs—thanks to their predictable, inflation-linked returns. Private equity investors have also been highly active, drawn by strong growth prospects and opportunities to consolidate fragmented markets. These dynamics have pushed valuations to record highs and sustained strong demand for UK data centre M&A, defying the slowdown in other real estate sectors post-pandemic. Against this backdrop, data centre M&A transactions are not merely high-value real estate deals; they demand familiarity with operational infrastructure, advanced technology, long-term service contracts, and complex regulatory issues. Executing such transactions successfully requires integrated expertise across M&A, energy, real estate, technology, regulatory, and finance. Understanding the legal and commercial anatomy of these deals is paramount for unlocking maximum value and mitigating inherent risks.
Insights
Oct 07, 2025
Spotlight on the UK’s NSI regime
It’s been over three years since the UK’s National Security and Investment (NSI) regime came into force. Since then, the regime has remained largely unchanged, with several attempts over the period to increase the transparency and clarity of the regime through the publication of Annual Reports and market guidance notes. On 22 July 2025, the UK Government announced three significant updates to the regime: A 12-week consultation on proposed reforms to the 17 sectors that give rise to mandatory notification; An announcement that certain types of transactions (notably in respect of internal reorganisations) would be removed from the scope of the NSI regime; and The publication of its fourth Annual Report on the operation of the regime. Together with the Government’s Industrial Strategy and National Security Strategy, these updates reflect the Government’s efforts to ensure that the NSI regime keeps apace with growing national security threats while at the same time promoting investment in line with the Government’s broader growth agenda. For investors and corporates active in the UK, these developments are important: they highlight where the focus of the Government is shifting, how the regime is operating in practice and the implications for deal execution. Below we consider the main reforms proposed and the impact for businesses.
News
Sep 08, 2025
BCLP Strengthens Global Antitrust and Foreign Investment Practice with Lateral Hire