The last word – Swoop to conquer

With the publication of our annual Global London report, leading figures at US law firms in the City weigh up a volatile market


COMPELLING ALTERNATIVES

‘Global corporates, wherever they are headquartered, are increasingly recognising that we provide the same depth and quality as the Magic Circle in London but also with a global platform that extends into the US. Outside of the US, it is comparable with the Magic Circle. When you put that proposal to a global corporate, then we can provide a compelling alternative as we can speak in English and American accents.’

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US law firms’ secret deal weapon blunted as Pfizer pulls plug on $160bn inversion bid

The wave of ‘inversion’ bids into Europe from US companies could be set to end, with the strategy pioneered by Skadden, Arps, Slate, Meagher & Flom hit this week as US drug maker Pfizer terminated its $160bn deal to acquire Allergan amid US tax reforms.

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Revolving doors: Linklaters makes private client play in a big week for US firm moves in the City

Linklaters has made a key trusts hire in the City, while US firms Mayer Brown, Baker & McKenzie, Morgan, Lewis & Bockius and Orrick, Herrington & Sutcliffe have all made strategic appointments in London.

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Latham’s global march slowed as capital markets slump hits US elite

After setting the pace during last year’s global reporting season, raising revenue by 14% to $2.61bn to become the largest law firm in the world by turnover, growth at Latham & Watkins slowed in 2015 as the collapse in capital markets activity hits elite US firms.

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US financials 2015: Paul Weiss, Dechert, Goodwin and K&S all post strong results

US firm revenue-season has begun with leading firm Paul, Weiss, Rifkind, Wharton & Garrison posting year-on-year growth. Revenues were up 7% in 2015 to $1.1bn from $1bn the previous year in what is the firm’s 16th year of record-breaking growth having broken the billion dollar barrier last year.

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The pitch – A new kind of global law firm emerges but can Dentons live up to the hype?

A dismissed also-ran, Dentons has improbably reinvented itself as a pioneer taking legal globalisation to new heights. Critics snipe but can the firm live up to the soaring rhetoric?

‘We’ve obviously grown faster than any law firm ever,’ says Dentons’ iconoclastic chair Joe Andrew as he loads up a presentation designed for potential global suitors. Sitting alongside chief executive and friend Elliott Portnoy they make a slick pair, unsurprising given that this presentation has been practised on more than 100 law firm leaders around the world. The batting average was impressive in 2015. In a breakthrough year, six law firms across the US, China, Australia, Singapore, Colombia and Mexico agreed to join Dentons in a spree without precedent in the legal industry. A law firm written off as a global player in most quarters had become on some measures the world’s largest firm. Actually, it achieved that distinction less than a month into 2015 with the headline-grabbing tie-up with 4,000-lawyer Chinese giant Dacheng. Many in the profession are quick to predict a dramatic fall for this empire but everyone is talking about a firm that two years ago didn’t get a second thought.

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US and Irish firms act on $16.5bn Tyco-Johnson Controls merger

Simpson Thacher & Bartlett, Wachtell, Lipton, Rosen & Katz, A&L Goodbody and Arthur Cox have all landed roles advising on the $16.5bn merger of industrial company Johnson Controls and security provider Tyco – a deal that will lower the new company’s tax bill.

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Skadden and Freshfields top global deal tables as M&A figures reach record heights

In a record year for global M&A, US firm Skadden, Arps, Slate, Meagher & Flom and Magic Circle firm Freshfields Bruckhaus Deringer were the top performers in the US and Europe respectively, according to Dealogic’s 2015 league tables.

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