The Lex 100 News
Dealwatch: Ashurst and Travers double up on McColl’s and Ideagen acquisitions as Freshfields energises offshore wind deal
A trio of City firms acted on the sale out of insolvency of McColl’s to supermarket chain Morrisons, in a week that also saw significant mandates in the renewable energy and software sectors. The transaction, which was structured as a pre-pack sale following the initiation of administration proceedings by McColl’s board on 6 May, ensured …
Dealwatch: City players drill down on Siccar Point Energy sale as US elite act on IFS and WorkWave deal
Significant deals in the pharmaceutical, energy and software space have got the market talking over the last week, as City and US giants scored major mandates. Ithaca Energy is acquiring Siccar Point Energy, best known for operating the Cambo oil and gas field in the North Sea, for $1.5bn. The buyer will pay $1.1bn up …
‘Buffeted from both sides’: City partners react as Clyde & Co and BLM finalise merger
With partners from Clyde & Co and BLM recently voting through their £700m merger, observers have offered conflicting views on what the tie-up means for the market. Legal Business broke the news on 18 March that a partnership vote was imminent, and Clyde confirmed on 28 March that the vote had passed, with the combination …
Paul Hastings toasts quarter century in London with 41% City revenue surge
In what the firm is hailing as ‘its best financial year ever’, Paul Hastings has posted an eye-catching 41% growth in City turnover from £108.6m to £157.2m. Globally, Paul Hastings did not fare much worse, with worldwide turnover jumping 20% from $1.31bn to $1.57bn. This was accompanied by a 21% hike in profit per partner (PPP), which …
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Dealwatch: Simpson Thacher and Kirkland lead on EQT’s €6.8bn BPEA deal as Freshfields and HSF jump aboard Stagecoach offer
EQT’s €6.8bn acquisition of Baring Private Equity Asia (BPEA), Cinven’s $2.6bn buyout of BESP and Pan-European Infrastructure III’s (PEIF III) £595m cash offer for Stagecoach Group Plc have kept advisers busy in recent days, as private equity deals continue to drive the M&A market. Stockholm-headquartered EQT reached an agreement to buy Baring Private Equity Asia …
Latham becomes the first $5bn law firm club member as revenue soars 27%
Latham & Watkins has become the first law firm to break the $5bn revenue barrier as turnover spiked 26.7% to $5.489bn in the 2021/22 financial year. Profit per partner also saw a comparable 26% surge to $5.71m from $4.52 last year. The figures released on 21 March easily eclipsed last year’s still impressive results, which …
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Clyde & Co and BLM to merge with partner vote imminent
Clyde & Co and BLM are at an advanced stage of merger discussions, with both sets of partnerships due to vote on a tie-up before the end of March. Legal Business understands that there is significant confidence that the deal will be green-lit. According to the latest available LB100 data, the merger would create a …
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Dentons, DLA and Bakers to sever ties with Russia offices as A&O and CC wind down
Baker McKenzie, DLA Piper and Dentons have taken a different course to most international law firms, separating from their Russia practices and leaving independent firms behind, rather than closing the offices entirely as a response to Russia’s continued invasion of Ukraine. All three firms operate under a Swiss verein structure, which enables the different offices to …
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Akin Gump, Freshfields and Latham latest to withdraw in Moscow as mass exodus ensues
Akin Gump, Latham & Watkins and Freshfields Bruckhaus Deringer are among the latest international firms to shut down or suspend operations in Moscow, as pressure to take action has mounted in light of Russia’s sustained invasion of Ukraine. The news came after Linklaters and Norton Rose Fulbright announced their intentions to withdraw from Moscow in …
Deal watch: Global London elite turns out for KKR’s Refresco buyout and Macquarie’s Roadchef acquisition
The private equity boom has shown no signs of slowing down in recent weeks, with the London offices of US firms taking the lead on noteworthy acquisitions in the logistics, food & drink, and infrastructure sectors. Skadden, Simpson Thacher and Latham & Watkins advised on the acquisition by KKR of a majority stake in independent …
