Kirkland & Ellis’ M&A conflicts crisis deepened on June 9, when a federal magistrate judge in Pittsburgh recommended that the firm be preliminarily enjoined from advising Israel’s Teva Pharmaceutical Industries Limited in its $40 billion hostile bid for Mylan N.V.
Kirkland’s loss is Sullivan & Cromwell’s gain, as Teva announced that S&C will step in as Teva’s counsel in the cross-border takeover fight.
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