I recently finished Wolf Hall by Hilary Mantel, a truly brilliant novel about the ascent of Thomas Cromwell to political and legal power in Tudor England. There is something of the intrigue and drama of that in Confidence Games: Lawyers, Accountants, and the Tax Shelter Industry by Tanina Rostain and Milton C. Regan. The book is a detailed investigation of a series of abusive tax shelters in the US between 1994 and 2004 whereby Rostain and Regan say, ‘law firms, accounting firms, and financial institutions involved in the shelter industry… perpetrated fraud not only on the government but also on their own clients.’ Continue reading “Guest post: Snake Hall – the games tax lawyers have played”
A&O, Hogan Lovells and Skadden line up on $1.46bn acquisition of Aeroflex by UK rival Cobham
Allen & Overy (A&O), Hogan Lovells and Skadden, Arps, Slate, Meagher & Flom are among firms to be awarded mandates on British aerospace and defence supplier Cobham’s all-cash acquisition of US communications equipment maker Aeroflex for $1.46bn. Continue reading “A&O, Hogan Lovells and Skadden line up on $1.46bn acquisition of Aeroflex by UK rival Cobham”
Associate pay: Shearman raises English-qualified lawyers’ salaries by up to 6.4% across the board
Shearman & Sterling has announced a salary boost for its English-qualified lawyers, increasing pay levels across the firm’s three-tier merit based system by up to 6.4%. Continue reading “Associate pay: Shearman raises English-qualified lawyers’ salaries by up to 6.4% across the board”
Barclays high profile Americas chief Michael Crowl set to join UBS
Barclays’ high-profile managing director and general counsel (GC) for the Americas, Michael Crowl, is leaving to head UBS’ US wealth management division, replacing former permanent head Jonathan Eisenberg, who returned to K&L Gates last year. Continue reading “Barclays high profile Americas chief Michael Crowl set to join UBS”
Bayer’s $14.2bn acquisition from Merck spins out roles for Sullivan, Fried Frank, Morgan Lewis and Cleary
The $14.2bn acquisition of Merck’s consumer care business by German pharmaceutical giant Bayer has spun out roles for a clutch of leading US law firms, as Sullivan & Cromwell advises longstanding client Bayer opposite Fried, Frank, Harris, Shriver & Jacobson; Morgan, Lewis & Bockius; and Cleary Gottlieb Steen & Hamilton for Merck. Continue reading “Bayer’s $14.2bn acquisition from Merck spins out roles for Sullivan, Fried Frank, Morgan Lewis and Cleary”
Transatlantic Weil and Milbank teams advise on circa €2bn Flint acquisition; A&O launches Primark in the US
Weil, Gotshal & Manges London, German and New York banking teams have advised the lenders on Goldman Sachs and Koch Industries’ acquisition of Flint Group from CVC Capital Partners for a purchase price reported to be more than Flint’s 2013 revenue of €2.2bn, as a transatlantic Allen & Overy (A&O) team assisted Primark on its launch into the US. Continue reading “Transatlantic Weil and Milbank teams advise on circa €2bn Flint acquisition; A&O launches Primark in the US”
Paul Hastings and Cleary advise on Marriott London Grosvenor sale and £200m buy-in of UK’s Victoria Plumb
The London offices of US firms Paul Hastings and Cleary Gottlieb Steen & Hamilton are advising on the £125m sale of the Marriott London Grosvenor Square Hotel and the acquisition of a majority stake in British online bathroom retailer Victoria Plumb for around £200m respectively. Continue reading “Paul Hastings and Cleary advise on Marriott London Grosvenor sale and £200m buy-in of UK’s Victoria Plumb”
Squire Sanders’ merger talks partner Patton Boggs approached by Dentons
Squire Sanders‘ merger talks partner Patton Boggs has been approached with an offer to combine from top 50 Global 100 firm Dentons. Continue reading “Squire Sanders’ merger talks partner Patton Boggs approached by Dentons”
Squire Sanders reveals almost flat US turnover and profits as Patton Boggs talks ongoing
Squire Sanders has unveiled largely flat 2013 results in the US, with revenue at the top 15 LB100 firm, which is still in merger talks with Washington’s Patton Boggs, nudging up just 0.1% to $775m. Continue reading “Squire Sanders reveals almost flat US turnover and profits as Patton Boggs talks ongoing”
Skadden latest US firm to enter Seoul after obtaining local licence
Skadden, Arps, Slate, Meagher & Flom has announced it is opening in Seoul, South Korea, joining a growing number of UK and US firms who have already entered the market. Continue reading “Skadden latest US firm to enter Seoul after obtaining local licence”