Cross-border teams from Sullivan & Cromwell and Latham & Watkins have landed the lead roles on the $40bn takeover of Allergan’s generic-making business by Teva that has seen the Israeli pharmaceutical powerhouse also abandon its bid for Mylan.
A host of law firms have been awarded positions as Deutsche Bank’s go-to advisers with the lender having finalised its global legal panel after kicking the process off at the end of last year.
Scottish firm Brodies has once again turned in a strong financial performance, reporting a double-digit growth in both revenue and profits per equity partner (PEP) in its audited accounts for the 2014/15 financial year.
Skadden, Arps, Slate, Meagher & Flom and Freshfields Bruckhaus Deringer have both won lead roles advising on Pearson’s £844m sale of the Financial Times.
While mid-tier firms continue to reveal solid returns for the 2014/15 financial year, those focused on insurance are suffering from the challenges in the sector with Ince & Co posting a drop in revenues and Kennedys revealing 1% turnover growth.
After having launched a second office in Spain last year, Allen & Overy (A&O) has continued to build its offering in the country by recruiting finance partner Juan Hormaechea from Ashurst, where he most recently led the Spanish banking and international finance department.
UK top-50 firm Trowers & Hamlins has recovered from the mixed set of financial results last year but is yet to match previous form as the firm posted revenues of £79.4m for the 2014/15 financial year – up on last year but still down 11% on a five year view.
Following a record financial year that has seen Allen & Overy (A&O) move ahead of Magic Circle rivals Linklaters and Freshfields Bruckhaus Deringer in turnover, the firm’s associates will see a £20,000 increase in their base salaries as the firm incorporates bonuses into the annual pay packet.
Magic Circle duo Allen & Overy (A&O) and Freshfields Bruckhaus Deringer acted as the bidding battle for online gambling company Bwin.Party Digital Entertainment came to an end today (17 July) with 888 beating GVC to acquire the FTSE 250-listed rival for £898m.
After having brought in Bain & Co last year to advise on the firm’s strategy, Ashurst’s chairman and New Zealand-born litigator Ben Tidswell (pictured) talks to Legal Business about the firm’s new direction and its renewed focus on financial institutions, energy and infrastructure, and the Asia-Pacific.
