Investors aren’t the only people benefitting from the wave of Chinese companies delisting from U.S. stock exchanges and returning to their home country. Lawyers are enjoying the trend, too.
In a deal announced last Wednesday, Kirkland & Ellis made news when it was revealed the firm is advising a consortium of investors that offered about $9 billion to acquire Chinese internet security company Qihoo 360 Co. Ltd. and delist it from the New York Stock Exchange—the largest ever going-private proposal for a U.S.-listed Chinese company, topping the $3.7 billion offer for Focus Media Holding Ltd. in 2012. Two days later Qihoo announced that Skadden, Arps, Slate, Meagher & Flom would represent the independent special committee charged with reviewing the offer.
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