Allen & Overy (A&O) and Herbert Smith Freehills (HSF) are lead advisers in 21st Century Fox’s takeover bid for Sky, as a ‘possible offer’ valuing the company at £18.5bn was agreed ‘in principle’ on Friday (9 December).
Shearman & Sterling and Latham & Watkins have advised Thomas Cook and the underwriting banks in the global travel specialists’ €750m high yield bond offering, guaranteed by various Thomas Cook subsidiaries. The offering comprised of 6.25% senior notes due 2022, and the proceeds will be used to refinance existing debt.
British American Tobacco (BAT) has picked Slaughter and May as its sole legal provider for its investigation into allegations of bribery and corruption, removing Linklaters from the mandate.
Milbank, Tweed, Hadley & McCloy has confirmed private equity (PE) partner Michael Bernhardt will join the firm’s corporate department in Frankfurt from Allen & Overy (A&O).
The first LB100 firm to post mid-year results for 2016/17, Fieldfisher, has lifted revenue for the period by 10% to £64.1m. The firm posted an 8% rise to £58.4m for the same period last year.
Taylor Wessing has added to its Warsaw office as 39 Essex Chambers brought in a new arbitrator and the New York Times got a new general counsel this week.
Four King & Wood Mallesons partners, the majority of the firm’s influential funds team, are in talks to join Goodwin Procter, following their former group head Michael Halford’s decision to join the US firm.
The European offices at Paul Hastings had a record year in 2015, with profit increasing by 50% from £20.2m to £30.2m. The firm also posted a 16% increase in revenue from £82.5m to £96m, according to filings at Companies House for the year ending 31 January 2016.
King & Wood Mallesons‘ European arm has failed to complete its planned recapitalisation programme, which was paused last month after a number of partner departures.
Herbert Smith Freehills (HSF) and Cravath, Swaine & Moore are advising British American Tobacco (BAT) on its offer to acquire the remaining 57.8 % stake in Reynolds American for $47bn. BAT had already owned 42.2% of Reynolds for the last 12 years.