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  • September 12, 2013 |

    China's consuming passion – the country's taste for luxury goods is powering the M&A market

    Despite the drop in the number of US and European investments in China, Elizabeth Broomhall reports that the country's taste for luxury means law firms are still confident about inbound deal prospects – something they say is crucial as competition heats up for outbound M&A mandates...

    1 minute read

  • September 12, 2013 |

    Profit margin split highlights stark disparities across UK top 50

    Freshfields Bruckhaus Deringer has emerged as the most profitable firm in the UK top 50, with 2012-13 financial results showing profit margins across the group have remained broadly static. Freshfields comes out top when ranking the top 50 firms by profit margin, with net profit as a percentage of revenue standing at 44.9%. Linklaters places second with a 43.7% margin, with Macfarlanes and Travers Smith – the 28th and 40th largest UK firms respectively by revenue – ranking third and fourth and Allen & Overy (A&O) completing the top five. Average profitability across the 42 top 50 firms that fully disclosed their financial results stands at 25.2% for 2012-13, flat on the previous year's figure of 25.8%.

    1 minute read

  • September 12, 2013 |

    Debevoise and Milbank advise on Verizon's record $49bn bond issue

    Debevoise & Plimpton and Milbank Tweed Hadley & McCloy have taken the lead roles on Verizon's $49bn (£31bn) US bond issue, the largest corporate debt sale in history. The bond sale comes as the US telecoms group raises capital to finance its acquisition of Vodafone's 45% stake of Verizon Wireless, a $130bn (£84bn) deal which handed roles to a raft of firms including Slaughter and May and Macfarlanes.

    1 minute read

  • September 11, 2013 |

    Ex-Slaughters and CC partners take top roles at new competition regulator

    Former Slaughter and May partner Sarah Cardell has been appointed as GC of the Competition and Markets Authority (CMA), as the new body formed by the merger of the Competition Commission and the Office of Fair Trading (OFT) sets out its leadership team. Cardell joins from Ofgem, where she is currently legal partner of the markets division. She joined the energy regulator in 2011 after three years as a partner at Slaughters.

    1 minute read

  • September 9, 2013 |

    Shell appoints new head of UK legal in reshuffle of in-house team

    Shell has appointed former Slaughter and May lawyer Michael Coates as its new UK legal chief, as part of a reorganisation of the energy giant's top level legal team. Coates will also sit as associate general counsel for marketing and manufacturing in North West Europe, and report to general counsel for downstream Hans von der Linde.

    1 minute read

  • September 9, 2013 |

    A&O, CC drink to Suntory's £1.35bn Ribena and Lucozade acquisition

    Allen & Overy (A&O) and Clifford Chance (CC) have scored the leading roles on GlaxoSmithKline's (GSK's) £1.35bn sale of its Ribena and Lucozade brands to Japan's Suntory Beverage & Food. The UK healthcare company has sold off the well-known drink brands after a strategic review which began in February this year. Ribena and Lucozade, which date back to 1927 and 1937 respectively, brought in around £500m for GSK last year in annual sales.

    1 minute read

  • September 5, 2013 |

    UK top 20 squeeze equity ranks as PEP pressure drives prudence

    The proportion of equity partners across the UK top 20 is continuing to shrink as law firms tighten their grip on the equity amid ongoing pressure on profits. The UK's 20 largest law firms by revenue have seen the overall proportion of equity partners fall by 12% over the last seven years, with equity partners accounting for 59% of the total partner count in 2012-13, according to Legal Week research. While the number of partners across the top 20 has risen by 31% since 2005-06, the number of equity partners has grown by just 15% over the same period.

    1 minute read

  • September 5, 2013 |

    Eversheds and Bakers talk turkey as Bernard Matthews secures investment

    Eversheds and Baker & McKenzie have advised on a deal that has secured the future of the UK's largest turkey farmer and producer, Bernard Matthews Holdings. Turnaround and restructuring investor Rutland Partners has taken a controlling stake in Bernard Matthews, which rears more than seven million turkeys a year and employs 2,000 staff.

    1 minute read

  • September 3, 2013 |

    Slaughters helps Arsenal to £42.4m record signing of Real Madrid's Ozil

    Slaughter and May has advised longstanding client Arsenal Football Club on its summer transfer dealings, including the club record signing of Real Madrid midfielder Mesut Ozil. The Germany international completed his move last night (2 April) in a deal valued at £42.4m, one of the biggest-ever transfer fees paid by a Premier League club.

    1 minute read

  • September 2, 2013 |

    Slaughters and Macfarlanes lead on $130bn Vodafone-Verizon deal as Links misses out

    Slaughter and May and Macfarlanes have taken lead roles on Vodafone's $130bn (£84bn) sale of its 45% stake in US mobile operator Verizon Wireless, with regular Vodafone adviser Linklaters missing out on one of the largest corporate deals in history. The sale, to US telecoms giant Verizon Communications, has also handed roles to a trio of US firms - Wachtell Lipton Rosen & Katz and Debevoise & Plimpton for Verizon and Simpson Thacher & Bartlett for Vodafone.

    1 minute read