As January draws to a close the deal market continues its robust run, with Simpson Thacher & Bartlett leading the advisers on Blackstone’s headline-grabbing Thomson Reuters carve-out while City leaders deploy for Informa’s £3.9bn takeover of UBM.
Insolvency professionals have long been predicting a wave of trouble would hit the beleaguered UK high street and it has come to pass with Kirkland & Ellis and Eversheds Sutherland securing lead roles on the collapses this week of Toys R US and Maplin.
After a turbulent period outside the deal rooms for some of the world’s largest corporate firms, Latham & Watkins and Baker McKenzie have won key corporate mandates while Herbert Smith Freehills (HSF) landed a main market IPO on the London Stock Exchange (LSE).
Magic Circle firms Freshfields Bruckhaus Deringer and Slaughter and May have rejuvenated longstanding client relationships to win lead roles on Swiss pharmaceuticals giant Novartis’ $13bn sale to GlaxoSmithKline (GSK) of its minority stake in their consumer healthcare joint venture.
Slaughter and May and Freshfields Bruckhaus Deringer have landed key roles on Vodafone’s €18.4bn buyout of Liberty Global European assets, as Vodafone expands its European services.
Slaughter and May, Sullivan & Cromwell, CMS Cameron McKenna Nabarro Olswang and Ashurst have defied a challenging market to take key roles on a pair of UK mergers as listed Gateley leads on the collapse of Patisserie Valerie.
The UK buyout market had an uncharacteristically frenetic week with City M&A counsel taking the lead on a £1.3bn unsolicited bid for doorstep lender Provident Financial and the £975m recommended offer for UK cheese and spreads stalwart Dairy Crest Group on the same day.
Skadden, Arps, Slate, Meagher & Flom is advising payment processor Worldpay on a proposed $43bn takeover offer by financial technology company FIS, while Freshfields Bruckhaus Deringer has been drafted in to act for Deutsche Bank on merger talks with rival Commerzbank.
International investors have been keeping UK and US counsel busy this week, with Linklaters and Kirkland & Ellis winning roles on Nestlé’s proposed $10bn sale of its skincare business.
The deal teams of elite City firms have seen a busy end of July amid several multibillion-pound deals, as the London Stock Exchange (LSE) launched a $27bn bid to acquire Refinitiv and Advent International announced the £4bn acquisition of UK aerospace supplier Cobham. Meanwhile, another private equity house investing in the UK aviation industry, CVC Capital Partners, acquired BBA Aviation’s aircraft parts unit Ontic for $1.37bn.
Tweets by @TheLex100