Linklaters bags £33bn French mega deal
Legal Week reports
January 28, 2004 at 07:03 PM
1 minute read
Linklaters has been called in to act for Sanofi-Sythnelabo for the first time on its high-profile E48bn (£33bn) hostile bid for Aventis, after the French giant's regular counsel was conflicted out.
The bid, which could create the world's third largest pharmaceutical company, is regarded as a landmark for the French market since hostile bids are extremely rare on the Continent.
As exclusively revealed on legalweek.com (27 January) Sanofi's preferred counsel, Cleary Gottlieb Steen & Hamilton, rejected the instruction because of previous advice it had given to Aventis, leaving Sanofi to instruct Linklaters' Thierry Vassogne.
One lawyer close to the deal said: "Sanofi did not so much approach Linklaters as Vassogne personally because he is one of the best lawyers in France."
Sanofi also sought advice from Jean-Michel Darrois, name partner of Darrois Villey Maillot & Brochier, and Jean-Pierre Martel of Rambaud Martel.
Wachtell Lipton Rosen & Katz founding partner David Katz is advising Sanofi on US aspects of the deal alongside Washington DC's Arnold & Porter.
Brendin Prat is advising Aventis.
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