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  • May 1, 2008 |

    First-half M&A boom drives US firms to $64.5bn record in 2007

    The US's top 100 law firms have capped off a record-breaking five-year run that has seen partner profits soar and combined fees last year hit $64.5bn (£32.4bn), according to the definitive snapshot of the world's largest legal market.The American Lawyer's eagerly-awaited top 100 rankings confirm that the M&A boom of the first half of 2007 has driven the US's top law firms to record financial results.

    1 minute read

  • April 30, 2008 |

    Fried Frank ties up Virgin Media notes offering

    Fried Frank Harris Shriver & Jacobson has secured a role advising longstanding client Virgin Media on a $1bn (£504m) notes offering.

    1 minute read

  • April 30, 2008 |

    Hostile territory

    With all the hostile takeovers and proxy fights, Silicon Valley looks more like Wall Street - and some say the new attitude is here to stay. The question is: can the tech companies and their lawyers handle the more combative culture? Recent headlines illustrate the shift: Oracle's $8.5bn (£4.3bn) conquest of BEA Systems, Microsoft's $40bn (£20.3bn) pursuit of Yahoo! and, most recently, Electronic Arts' $2bn (£1.01bn) bid for Take-Two Interactive. Other tech companies - CNET, Sybase, Transmeta - are also doing battle with hedge funds or other investors seeking at least partial control.

    1 minute read

  • April 29, 2008 |

    NY rivals chew over $23bn Mars-Wrigley deal

    Elite Manhattan firms Simpson Thacher & Bartlett and Skadden Arps Slate Meagher & Flom have taken lead roles on Mars' merger with rival confectionary group Wm Wrigley Jr Co - one of the largest M&A deals of the year so far. The deal - worth approximately $23bn (£11.5bn) - sees Simpson Thacher client Mars acquire Wrigley, with Warren Buffet's Berkshire Hathaway investment group taking a $2.1bn (£1.05bn) stake in Wrigley.

    1 minute read

  • April 25, 2008 |

    Willkie Farr eyes succession with vice chair duo

    Willkie Farr & Gallagher has named two likely successors to longtime chairman Jack Nusbaum, who said he is planning to step down at the end of 2009, writes the New York Law Journal. Thomas Cerabino and Steven Gartner, who co-chair Willkie Farr's corporate and finance department and both sit on the firm's executive committee, were appointed to the newly-created position of vice chairman yesterday (24 April).

    1 minute read

  • April 24, 2008 |

    Wary LBO lawyers wonder if banks can revive market

    Is that light at the end of the tunnel or just another false dawn? Leveraged finance teams certainly hope the latest attempts to unblock the leveraged finance market, as institutions such as Citi and Deutsche Bank put together deals to sell off their leveraged loans portfolio, will start to get things moving.But acquisition finance counsel, probably the City lawyers hardest hit by the prolonged turmoil in credit markets, are feeling too edgy to get hopeful just yet. After all, hopes of a revival emerged in October as debt was moved on two flagship deals - First Data and Alliance Boots N and credit spreads began to narrow. But it was not long before gloomy US economic news and a string of fresh bank writedowns took their toll, largely closing the market for £500m-plus mandates.

    1 minute read

  • April 23, 2008 |

    Central and Eastern Europe: Centre of attention

    Law firms that invested in Central and Eastern Europe soon after the fall of the Iron Curtain are enjoying the region's enduring economic boom and seeking shelter from the London gloom. Dominic Carman speaks to partners across the region, from Vienna to Kiev

    1 minute read

  • April 22, 2008 |

    Jones Day joins NY elite on $7bn fundraising

    Jones Day has bagged a role alongside a clutch of leading New York firms on a $7bn (£3.5m) fundraising by US lender National City. Sullivan & Cromwell advised Cleveland-based National City alongside Jones Day, while Simpson Thacher & Bartlett advised Corsair Capital, the largest single investor. Cleary Gottlieb Steen & Hamilton also landed a role advising Axon, another of the investors.

    1 minute read

  • April 16, 2008 |

    Wachtell and Simpson lead Delta-Northwest deal

    Elite New York firms Wachtell Lipton Rosen & Katz and Simpson Thacher & Bartlett have bagged lead roles on the merger between Delta Airlines and Northwest Airlines - a deal that will create the country's largest air carrier, worth almost $18bn (£9bn). Wachtell is advising Delta alongside fellow US firm Hunton & Williams. Corporate partners Edward Herlihy, Stephanie Seligman and Lawrence Makow led the team for Wachtell.

    1 minute read

  • April 10, 2008 | International Edition

    Simmons wins surprise UK role on Bear Stearns fire sale

    Simmons & Simmons has won a surprise role on the fire sale of Bear Stearns - advising the stricken Wall Street giant on the UK aspects of its sale to JP Morgan last month. Simmons' role on the high-profile sale will be seen as a coup for the top 10 City firm's corporate and finance practices, with the partners Jeremy Hoyland (financial markets) and Alan Karter (corporate) brought on board when it became apparent that the bank was in trouble.

    1 minute read