Whatever concerns City playmakers had about a coronavirus-related hiatus for big-ticket M&A in recent months appear to be well and truly allayed in the last few days, with the £6.8bn takeover of supermarket giant Asda capping off a prolific week.
Slaughter and May, Skadden, Arps, Slate, Meagher & Flom and Latham & Watkins won roles on the Asda deal, which sees the Issa brothers – founders and co-CEOs of UK petrol station retailer EG Group – and TDR Capital acquire a majority stake in the UK business of Asda Group from US parent Walmart for an enterprise value of £6.8bn.
