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Sponsored foreword: What’s next for M&A?

The key question at the present time is ‘what’s next for M&A’? Ever since the financial crisis, the M&A market has been strong, driven by a favourable economic backdrop, a large pool of liquidity and fundamental structural dynamics being driven by digitalisation and more recently by the move towards net zero. This strength in activity has only ever been seriously held back by the pandemic, which was – at least for M&A – a relatively short lived affair. At no time in the last decade have we faced as many headwinds as we do now, but how will the M&A market adapt? Continue reading “Sponsored foreword: What’s next for M&A?”

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Sponsored briefing: The impact of ESG on M&A transactions

In recent years, environmental, social and governance (ESG) issues have become increasingly important to shareholders and boards, as the regulatory landscape has developed quickly in multiple jurisdictions, and the financial and reputational risks of non-compliance with ESG regulation and best practice have increased. Listed companies, large corporates, private equity funds and financial institutions are all now subject to increased ESG-related reporting and disclosure obligations, and are demanding greater transparency and standards from investee companies in ESG matters. ESG factors are also increasingly relevant to acquisition finance, with the growth of the sustainable finance market.
Continue reading “Sponsored briefing: The impact of ESG on M&A transactions”

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Clifford Chance makes up 17 City partners in largest promotion round since 2007

Jeroen Ouwehand

Clifford Chance (CC) has promoted 37 lawyers to the partnership including 17 in the City, making it the latest Magic Circle firm to announce increased partner rounds in 2022.

All of the Magic Circle firms saw a jump in partner promotions this year, including the typically conservative Slaughter and May, which made up eight lawyers, an increase from five in 2021. Meanwhile, Allen & Overy’s 39-strong promotion round globally – including 13 in London – marks a step up from 30 last year. Linklaters promoted 41, up from 35 in 2021 and Freshfields Bruckhaus Deringer minted 27 compared with 22 last year.

Continue reading “Clifford Chance makes up 17 City partners in largest promotion round since 2007”

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Marching on

‘People typically underestimate the innovative powers that are out there,’ reflects Rick van Aerssen, Freshfields Bruckhaus Deringer’s global managing partner. ‘The adaptability of society has been significant. The way that the different economies have weathered the storm from the pandemic has been north of what we would have anticipated two years ago. I personally think the same will hold true for any crisis.’ Continue reading “Marching on”

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Shining a light on the next generation of dealmakers

It’s no secret that the M&A markets have been busier than ever of the last 18 months. Here, UK Legal 500 editor Georgina Stanley asked some of those set to dominate the City deal market over the next ten years to take a short break from their negotiations to share their tips for success. All ten of the lawyers featured over the coming pages have demonstrated the client relationship and transactional skills required to secure their spots as Next Generation M&A partners in the UK Legal 500 2022. From the deals that have defined their careers, through to the importance of staying calm in a crisis and the growing significance of ESG considerations and legal tech, they offer their insight into the profession and its future.

Continue reading “Shining a light on the next generation of dealmakers”

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Deals Yearbook 2022: Sally Wokes, Slaughter and May – partner since 2015

Why did you decide to become an M&A lawyer? Was there anyone in particular who inspired you early on in your career?
I unexpectedly fell in love with it in my first seat at the firm. It was the boom before the bust of 2005, and I found the pace and energy of what was happening in the group a huge draw. Ancillary to that, I have to say Melissa Fogarty, who was my first supervisor, and who has now gone on to be the co-head of London corporate at Clifford Chance. Continue reading “Deals Yearbook 2022: Sally Wokes, Slaughter and May – partner since 2015”

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Deals Yearbook 2022: Murray Cox, Weil – partner since 2016

Why did you decide to become an M&A lawyer? Was there anyone in particular who inspired you early on in your career?
I did my training contract at a firm in South Africa where I had a lot of exposure early on in my career to different kinds of work. I saw then that doing M&A would involve meeting lots of interesting people and learning about different kinds of businesses. William Underhill at Slaughter and May is still a huge inspiration. Continue reading “Deals Yearbook 2022: Murray Cox, Weil – partner since 2016”

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Deals Yearbook 2022: Hyder Jumabhoy, White & Case – partner since 2019

What has been your deal highlight over the last 12 months and why?
2021 was a monumental year for White & Case’s EMEA financial services M&A practice, and for me personally. In 2021, our London M&A team advised on > $25bn of financial services M&A deals and I advised on my 65th financial services M&A matter. My highlights included representing The Co-operative Bank on its £3.2bn bank balance sheet re-calibration exercise and representing Nordic open banking platform provider Tink, on its €1.7bn sale to Visa. Continue reading “Deals Yearbook 2022: Hyder Jumabhoy, White & Case – partner since 2019”

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Deals Yearbook 2022: Claire Coppel, Allen & Overy – partner since 2020

Why did you decide to become an M&A lawyer? Was there anyone in particular who inspired you early on in your career?
I loved the buzz and fast pace of corporate finance and M&A on my vacation scheme and during my training contract. I was particularly inspired as a trainee and junior associate by the managing partners of the London M&A team at the time – Andrew Ballheimer and Richard Browne – and my supervisor in corporate – Richard Hough: they had a tangible sense of ambition to grow the profile of the A&O corporate team so that we would be mentioned in the same breath as our UK-based rivals and I wanted to be a part of that. Continue reading “Deals Yearbook 2022: Claire Coppel, Allen & Overy – partner since 2020”

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Deals Yearbook 2022: Alex Tilley, Allen & Overy – partner since 2020

What has been the absolute deal highlight of your career so far and why?
Advising Liberty Global on its fixed and mobile UK telecoms joint venture in the UK to create what is now Virgin Media O2. We negotiated the transaction over a relatively short period right at the start of the first Covid lockdown, and it was amazing to watch a huge team adapt and still find a way to get the deal agreed. Continue reading “Deals Yearbook 2022: Alex Tilley, Allen & Overy – partner since 2020”

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Deals Yearbook 2022: Derek Tong, Linklaters – partner since 2019

Why did you decide to become an M&A lawyer? Was there anyone who inspired you early on in your career?
I sat with the M&A team in my second trainee seat and within a fairly short period I knew that I really wanted to qualify into that team. It felt like the M&A lawyers were at the centre of all the action and had more exposure to the broader commercial and strategic drivers for the deal. One of my mentors was our former corporate partner Iain Wagstaff, who sadly passed away a few years ago – I learnt an immeasurable amount from him and he was definitely one of the people who has inspired me most during my career. Continue reading “Deals Yearbook 2022: Derek Tong, Linklaters – partner since 2019”

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Deals Yearbook 2022: Fionnghuala (Finn) Griggs, Linklaters – partner since 2017

Why did you decide to become an M&A lawyer? Was there anyone in particular who inspired you early on in your career?
I started off my training contract with Linklaters sitting in the M&A team and quickly realised that I really valued and enjoyed the opportunity to work closely with clients on strategically important transactions, and to work with a broad range of teams and offices within the Linklaters network. It’s a great way to build relationships. During that first seat I worked on a demerger of a company and its UK listing, and 15 years on I am still working with that company as a key client of the firm – which is a real testament to the opportunities that you have as an M&A lawyer to build relationships and become a trusted adviser. Continue reading “Deals Yearbook 2022: Fionnghuala (Finn) Griggs, Linklaters – partner since 2017”

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Deals Yearbook 2022: Caroline Rae, Herbert Smith Freehills – partner since 2016

Why did you decide to become an M&A lawyer? Was there anyone in particular who inspired you early on in your career?
Once I had decided to become a lawyer there was never a doubt that I would specialise in M&A. When I was younger, I wanted to be in the cCty and to work on deals on the front page of the FT. For me, that meant M&A and it never crossed my mind that I would do anything else. It was a great source of disappointment when I realised that lawyers never get mentioned in the FT of course… but by then it was too late. When I interview graduates, I do encourage them to have an open mind about different areas of law, but I confess for me it was only ever M&A. Continue reading “Deals Yearbook 2022: Caroline Rae, Herbert Smith Freehills – partner since 2016”

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Deals Yearbook 2022: Nick Withers, Shearman & Sterling – partner since 2020

What has been the absolute deal highlight of your career so far and why?
The refinancing of Eddie Stobart plc in late 2019 was a real highlight. Being able to navigate a complex situation, working as an integrated team with our financing colleagues, and deliver a great result for our client was very satisfying, doing so to save a company that is a household name even more so. After the transaction closed our client received a letter of thanks from one of Eddie Stobart’s long serving employees for saving the company, which really brought home the real-world significance of what we did. Continue reading “Deals Yearbook 2022: Nick Withers, Shearman & Sterling – partner since 2020”

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Sponsored briefing: The Invasion of Ukraine is Catastrophic for the Russian Economy. Now What?

Has Russia violated its promises to Turkish Investors under the Turkey-Russia Bilateral Investment Treaty?

When the Russian Federation unleashed its deadly invasion of Ukraine, it was fully aware unprecedentedly severe sanctions would be imposed. As a direct result of these completely foreseeable sanctions, and other knock-on effects of the invasion, Turkish and other foreign investors in Russia will have seen the value of their investments take a serious hit, with further hits certain to come1. Continue reading “Sponsored briefing: The Invasion of Ukraine is Catastrophic for the Russian Economy. Now What?”