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Deal watch: trio of big-ticket deals highlight frothy market for US and City elite

Freshfields Bruckhaus Deringer

Barely a City or US firm in London has gone without popping a Champagne cork in recent days as big-ticket deal activity remains frothy, while showing no signs of losing its fizz.

Recent big-ticket deals characterising the market include US tech private equity player Silver Lake’s proposed £2.2bn buyout of ZPG – the parent company of UK property site Zoopla – Cinven’s disposal of its Ufinet Spanish fibre-optic business and the $816m London listing of Avast, the Prague-headquartered cybersecurity heavyweight. Continue reading “Deal watch: trio of big-ticket deals highlight frothy market for US and City elite”

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DLA becomes latest firm to make post-Brexit Dublin move after lengthy consideration

Dublin

DLA Piper has made good on a long-pondered office in Dublin as the firm eyes increased business in Ireland post-Brexit.

The firm said today (15 May) it was opening an office in Dublin with the hire of William Fry corporate partner David Carthy, who heads that firms foreign direct investment and life sciences and healthcare groups. He will lead DLA’s Dublin office, for which an opening date has not been confirmed. Continue reading “DLA becomes latest firm to make post-Brexit Dublin move after lengthy consideration”

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Revolving Doors: A quiet week for hires in the City sees firms making lateral moves abroad

City recruitment remained quiet last week as international hires continued to dominate, with Eversheds Sutherland being among the few to make key additions domestically, while the firm saw departures internationally.

Eversheds bolstered its employment capability with the hire of Sophie White from boutique firm Abbiss Cadres. Previously White had spent 13 years at CMS Cameron McKenna Nabarro Olswang and possesses experience in real estate, healthcare, financial services and private equity. Continue reading “Revolving Doors: A quiet week for hires in the City sees firms making lateral moves abroad”

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Two new faces gain membership to reshaped Co-op legal panel

Fieldfisher

Seven firms have won spots on a revamped Co-op Group legal panel which sees its corporate, commercial and property panels combined to work alongside primary adviser Allen & Overy (A&O).

Newly-appointed firms Fieldfisher and Squire Patton Boggs join Addleshaw Goddard, Pinsent Masons, Hill Dickinson, Brodies and Paris Smith for a three-year term, following a review which began last year. Continue reading “Two new faces gain membership to reshaped Co-op legal panel”

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‘Common sense’: Herbert Smith follows Linklaters’ lead in personal relationship disclosure and whistleblowing network

Herbert Smith Freehills

Herbert Smith Freehills (HSF) has become the second leading law firm to instruct partners and staff to disclose personal relationships with colleagues, while also introducing a third-party whistleblowing platform.

As part of a shake-up of its global policies and guidelines, HSF has introduced a new policy entitled ‘Personal Relationships in the Workplace.’ The firm stated that it is intended to ‘provide a framework to deal sensitively, consistently and fairly with personal relationships which may affect the business.’ Continue reading “‘Common sense’: Herbert Smith follows Linklaters’ lead in personal relationship disclosure and whistleblowing network”

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Kirkland makes surprise push into City IP with hire of A&O practice chief

Gherkin

Latham & Watkins’ City lateral hires outside its traditional transactional heartlands have been in the news for a while, but this time it is US rival Kirkland & Ellis tapping the Magic Circle for a surprising IP hire.

The firm announced today (14 May) that Allen & Overy’s (A&O) global head of IP Nicola Dagg has quit the firm to join the London office of the newly-crowned world’s largest grossing firm. Continue reading “Kirkland makes surprise push into City IP with hire of A&O practice chief”

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Slater and Gordon to launch new corporate entity alongside plans for £30m legal tech investment

Slater and Gordon

Revamped personal injury specialist Slater and Gordon (S&G) is set to roll its legal and former Quindell divisions into a single corporate entity and has earmarked £30m for investment in new technology.

The battle-worn firm today (11 May) announced plans to unify the two entities – Slater and Gordon Lawyers and Slater Gordon Solutions (SGS) – via an alternative business structure (ABS) in the coming months. Continue reading “Slater and Gordon to launch new corporate entity alongside plans for £30m legal tech investment”

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Freshfields names Pritchard new corporate boss as dealmaker Marchant retires after 30 years

M&A partner Julian Pritchard has been named Freshfields Bruckhaus Deringer’s new London deals head following the announcement stalwart dealmaker Simon Marchant (pictured) is retiring in July.

Pritchard will take the title of London head of transactions in replacing the corporate veteran Marchant, who has been at the Magic Circle firm for nearly 30 years. Continue reading “Freshfields names Pritchard new corporate boss as dealmaker Marchant retires after 30 years”

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Disputes round-up: Rosenblatt listing eyes third-party funding expansion as trio of firms collaborate on new litigation tech

London disputes specialist Rosenblatt is trying something new with its planned launch of a litigation funder, while three law firms have also highlighted their innovation wares by collaborating with a litigation start-up.

Rosenblatt this week (8 May) raised £43m in its listing on the Alternative Investment Market (AIM), giving the 21-partner firm a market capitalisation of £76m in what it described as a ‘significantly oversubscribed’ float. It was the fourth and biggest law firm initial public offering (IPO) to date. Continue reading “Disputes round-up: Rosenblatt listing eyes third-party funding expansion as trio of firms collaborate on new litigation tech”

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Latham continues European assault with Magic Circle hire in Germany while Ropes adds London finance partner from Goldman

starry sky over the City

US firms have been busy expanding their European finance ranks this week, with Latham & Watkins scooping yet another Magic Circle partner and Ropes & Gray hiring a leveraged finance partner in London.

In its race to the top of the German legal market, Latham has come back to London’s big four for the third European hire in less than two months. Continue reading “Latham continues European assault with Magic Circle hire in Germany while Ropes adds London finance partner from Goldman”

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Brettle bows out as White & Case London head to focus on going toe-to-toe with the Magic Circle

Oliver Brettle

Oliver Brettle has stepped down as White & Case’s London executive partner after a decade, with US securities partner Melissa Butler named his successor.

The move comes on the instruction of New York-based chair Hugh Verrier, who asked White & Case stalwart Brettle to concentrate on the firm’s 2020 strategy, which includes competing ‘toe-to-toe’ with the Magic Circle in the City. Continue reading “Brettle bows out as White & Case London head to focus on going toe-to-toe with the Magic Circle”

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Deal watch: Magic Circle duo lead on Vodafone’s €18.4bn buyout of Liberty Global European Assets

Vodafone

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.

The transaction includes the acquisition of US cable giant Liberty’s Unitymedia business in Germany, as well as its UPC brand businesses across Hungary, Romania and the Czech Republic, as Vodafone looks to accelerate consolidation in key markets. Continue reading “Deal watch: Magic Circle duo lead on Vodafone’s €18.4bn buyout of Liberty Global European Assets”

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Comment: Deal view – Cleary Gottlieb seeks to avoid City M&A anonymity in the age of US disruptors

Simon Jay

The London contingent of Cleary Gottlieb Steen & Hamilton has recently moved across the road into premises so new they do not yet have a postcode recognised by Google Maps. The irony is not lost if you consider the firm’s role as counsel to Google on some of the most high-profile antitrust cases in recent years. You would have thought they would have had that detail covered.

Uncharted or otherwise, the shiny new office can only be seen as a vote of confidence from Manhattan, especially as it will allow the City branch to accommodate some 180 lawyers – 40 more than it currently houses. But despite an exceptional competition practice and a long-established European network, Cleary ’s struggle to become a big hitter in London for mainstream M&A has been evident. Continue reading “Comment: Deal view – Cleary Gottlieb seeks to avoid City M&A anonymity in the age of US disruptors”

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Acceleration: Mishcon de Reya aims to bring ‘propositions to life’ in second MDR LAB cohort

Nick West

Mishcon de Reya has announced the second cohort of companies joining the firm’s incubation programme in London in the latest of a string of moves in the legal tech space.

The five new companies range from concept-stage to revenue generating, and will join the firm’s technology incubator programme over a 10-week period from today (8 May). ThirdFort, DealWIP, LitiGate, Digitory Legal and LawPanel were all selected following a pitch day at the firm’s London headquarters on 21 March, where a total of 16 companies presented their products and ideas. Continue reading “Acceleration: Mishcon de Reya aims to bring ‘propositions to life’ in second MDR LAB cohort”

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Deal watch: International firms find cure for Takeda’s £46bn pharma takeover as CMS and Pinsents tie up giant wind farm disposal

Slaughter and May office

Slaughter and May, Linklaters, Davis Polk and Ashurst are among the firms to have won major mandates on Japanese pharmaceutical giant Takeda’s £46bn takeover of Irish drug-maker Shire, while CMS and Pinsent Masons led on the sale of the UK’s £2bn Neart na Gaoithe offshore wind farm.

Takeda’s recommended offer is the culmination of a drawn out takeover process which has seen Japan’s largest pharma company make multiple bids for London Stock Exchange-listed Shire over recent months. Continue reading “Deal watch: International firms find cure for Takeda’s £46bn pharma takeover as CMS and Pinsents tie up giant wind farm disposal”

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What ails the GC/law firm dialogue?

One of the big, big wins to law firms and our clients is if we could get a collection of businesses to work out why you consistently hear from general counsel “law firms are not innovative enough” and you consistently hear from law firms “clients are never brave enough to do something different”. They’re both genuinely held views, with loads of examples – how can that be?’ Continue reading “What ails the GC/law firm dialogue?”

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Significant matters – Spring 2018

Clifford Chance acquires Carillion volume business

Uncertainty over the future of Carillion Advice Services (CAS) has ended after Clifford Chance (CC) went ahead with a surprise takeover of the in-house legal arm for an undisclosed sum. Newcastle-based CAS was put up for sale after its parent Carillion collapsed in one of the largest UK insolvencies for years. CAS has a team of 60 paralegals specialising in services such as document review, due diligence, e-disclosure and litigation support. The business will be fully integrated within CC, with CAS director Lucy Nixon reporting to CC’s client services solutions global head Oliver Campbell, as well as UK managing partner Michael Bates. CAS was originally inherited by Carillion in 2011 as part of its £300m acquisition of energy services company Eaga.

Continue reading “Significant matters – Spring 2018”

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Alphas

‘You will have to go out and find the women – they won’t come to you,’ warns Travers Smith partner Lucie Cawood when The in-House Lawyer began researching this cover feature. That proved an astute prediction.

Continue reading “Alphas”