Deal watch: Corporate activity in October 2016

CC and Davis Polk On $8bn China IPO: Davis Polk & Wardwell advised Postal Savings Bank of China on its Hong Kong Stock Exchange float, with Clifford Chance leading for the underwriting banks, including JP Morgan Chase and Goldman Sachs. King & Wood Mallesons acted as Chinese counsel to the banks, while Haiwen & Partners was Chinese adviser to Postal Savings Bank.

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Tokyo deal wave anticipated following SoftBank’s £24.3bn ARM takeover

Lawyers working on the £24.3bn ARM Holdings takeover by Tokyo-based telecoms group SoftBank expect more M&A deals to come out of Japan after Slaughter and May, Freshfields Bruckhaus Deringer, Davis Polk & Wardwell and Morrison & Foerster (MoFo) scored roles on the deal.

Slaughters advised its long-term client, chip designer ARM, on the largest-ever acquisition of a European tech business. Senior partner Steve Cooke led on the deal alongside corporate partner Chris McGaffin and Brussels competition partner Jordan Ellison. Davis Polk worked alongside Slaughters advising ARM, with a team including managing partner Thomas Reid and London-based corporate partner Reuven Young.

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Freshfields leads the pack as London’s big four continue flat financial trajectory

Firm posts impressive 8% PEP hike and 7% revenue increase despite headcount drop

With the unaudited results of firms in, Freshfields Bruckhaus Deringer has produced the standout 2015/16 financial performance in what was another muted year for the City’s most powerful law firms.

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Magic Circle firms lead on £615m Swiss takeover of British electronics company

Allen & Overy (A&O) and Slaughter and May have advised on the acquisition of British electronics company Premier Farnell by Swiss manufacturer Dätwyler for £615m.

A&O advised Leeds-based Premier Farnell, while Slaughters acted for Dätwyler on the transaction.

Announced in June, the deal sees London-listed Premier Farnell, which produces the Raspberry Pi single-board minicomputer, join the Swiss multinational. The deal is expected to be completed in the fourth quarter of 2016.

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