SLAUGHTERS TAKES LEAD ON PHARMA MEGA DEAL
Slaughter and May has acted opposite Cravath, Swaine & Moore as Johnson & Johnson made a $30bn offer to buy Swiss-based biopharma company Actelion Pharmaceuticals earlier this year. Slaughters advised along with Zürich-based Niederer Kraft & Frey and Wachtell, Lipton, Rosen & Katz for the takeover target, as Cravath advised Johnson.
REED SMITH SCORES ON 2017’s BIGGEST IPO SO FAR
Macfarlanes, Reed Smith and Travers Smith have all advised on Xafinity’s £190.3m float, in what is the largest premium main market initial public offering of 2017 to date. Reed Smith acted for Xafinity with Macfarlanes advising management. Travers also took a spot advising Zeus Capital, the bookrunner to the deal, and Deloitte as financial adviser and sponsor.
KRAFT FALLS SHORT IN UNILEVER BID
In what would have been the second-largest M&A deal in history, Unilever has rejected a $143bn takeover approach from The Kraft Heinz Company as Paul, Weiss, Rifkind, Wharton & Garrison and Linklaters took opposite sides. The Magic Circle firm advised the target Unilever, while Paul Weiss advised Kraft.
CC ADVISES AS CO-OP BANK SEEKS SUITORS
Clifford Chance, led by corporate partner Lee Coney, has been appointed as lead adviser to The Co-operative Bank as the high street lender invites offers to buy all of its shares to help it build its capital and meet regulatory requirements.