Simpson Thacher & Bartlett and Wilson Sonsini Goodrich & Rosati have advised on Microsoft’s acquisition of professional social network LinkedIn for $26.2bn.
Following suit: Four firms match Cravath associate pay boost
Predictions of a pay war have proved correct after four US firms followed Cravath, Swaine & Moore into bumping up their associate pay.
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Barclays to extend value accounts framework as part of latest panel review
More firms set to repay bank if targets missed
Barclays is planning to extend the value account system it introduced in 2014, where law firms are required to pay a rebate if they fail to hit their value targets, to all external advisers as part of its current panel review.
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Pearson kicks off second US panel review after finalising litigation roster
Launch of US corporate review follows UK panel selection
Pearson, the largest education company and book publisher in the world, has launched its US corporate panel review after finalising spots on its litigation roster for the region. The US changes come after Pearson finalised its UK roster in recent months with the help of Accenture.
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News in brief – June 2016
ADDLESHAWS IN MERGER TALKS WITH US FIRM
Addleshaw Goddard has turned to the US for a potential merger, having entered into talks with Virginia-based Hunton & Williams. The US firm had revenues of $528m in 2015, while Addleshaws made £193m in 2014/15.
Deal watch: Corporate activity in May 2016
SULLIVANS AND WACHTELL ADVISE ON $62m BAYER DEAL
Sullivan & Cromwell, Allen & Overy (A&O), and Wachtell, Lipton, Rosen & Katz all won roles as healthcare and agriculture company Bayer placed a bid to acquire agricultural company Monsanto for $62bn in May. Sullivans and A&O are acting for Bayer on M&A and financing matters respectively, while Wachtell has taken the lead for US firm Monsanto.
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Sidley secures TowerBrook work despite K&E charm offensive
After a high-profile tussle and one of the biggest team hires in the City, Sidley Austin has secured the corporate work of key Kirkland & Ellis client TowerBrook Capital Partners, amid claims that Sidley pushed aggressively to secure the work.
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Sidley secures TowerBrook work despite K&E charm offensive
Tussle continues over lucrative work after K&E raid
After a high-profile tussle and one of the biggest team hires in the City, Sidley Austin has secured the corporate work of key Kirkland & Ellis client TowerBrook Capital Partners, amid claims that Sidley pushed aggressively to secure the work.
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Willkie hires Bain euro GC as Wall St player strives to establish itself in City buyout sector
Willkie Farr & Gallagher has made a prominent recruit to its London arm with the appointment of Bain Capital Credit’s European general counsel Mark Fine as a partner.
One-stop shopping is here but it’s not doing what it was supposed to
Sometimes in business what you correctly forecast can prove as problematic as what you get wrong. Because even when you manage the considerable feat of identifying what will happen in the world you are left with problems of unintended consequences.
Take the one-stop shop, a dominating idea during the legal industry’s defining 1990s-era globalisation as firms fought to become larger players that could serve clients across borders and product lines. The idea was that plc clients would narrow their adviser lists to smaller numbers of larger law firms. And this has largely come to pass – the trend of smaller panels has been well documented for years and the shift shows no sign of changing. There is also ample evidence that being a one-stop shop for high-end work across borders is highly profitable for law firms.
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