Milbank gets in on the action in LSE bidding war
Legal Week Reports
December 14, 2005 at 07:03 PM
2 minute read
Milbank Tweed Hadley & McCloy is the latest firm to win a role in the bidding war for the London Stock Exchange (LSE), it has emerged.
The New York firm's London arm is advising Macquarie's financial adviser, Goldman Sachs, on the bid, with ex-Freshfields Bruckhaus Deringer M&A partner Tim Emmerson leading the team.
Milbank, a regular adviser to the US investment bank, is under-stood to have been involved on the transaction for about two months. The top 50 US firm secured a similar trophy role last year on Philip Green's unsuccessful bid for Marks & Spencer.
Milbank joins Macquarie's team of advisers, which includes Baker & McKenzie and Linklaters. The two firms are respectively advising on corporate and financing issues.
The Australian bank has until 5pm today (Thursday) to make a formal offer for the LSE under Takeover Panel rules after its indicative cash offer of 580p per share was last week rejected by the exchange as "derisory".
The protracted bidding war for the world-famous exchange, which was effectively launched last December when Deutsche Boerse and Euronext confirmed their interest in bidding, has generated roles for many of the UK's top corporate advisers.
Freshfields is advising the LSE, Slaughter and May and Cleary Gottlieb Steen & Hamilton are acting for Euronext, Ashurst is representing Deutsche Boerse and Clifford Chance is advising LCH Clearnet, the LSE's prime clearing house.
Deutsche Boerse and Euronext have both been given a conditional go-ahead to bid for the LSE. Nordic exchange OMX and the New York Stock Exchange are also viewed as potential bidders.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View All
Partners from Baker McKenzie, DLA Piper and PwC Join New Firms in Australia
4 minute read
India Firm Engaged as Volkswagen Sues Local Authorities Over $1.4B Tax Bill
De Brauw Partner Departs for In-House Role with Swiss Family Enterprise
Reed Smith Joins Saudi Legal Boom as UK and US Firms Race for Market Share
5 minute readTrending Stories
- 1Thursday Newspaper
- 2Public Notices/Calendars
- 3Judicial Ethics Opinion 24-117
- 4Rejuvenation of a Sharp Employer Non-Compete Tool: Delaware Supreme Court Reinvigorates the Employee Choice Doctrine
- 5Mastering Litigation in New York’s Commercial Division Part V, Leave It to the Experts: Expert Discovery in the New York Commercial Division
Who Got The Work
J. Brugh Lower of Gibbons has entered an appearance for industrial equipment supplier Devco Corporation in a pending trademark infringement lawsuit. The suit, accusing the defendant of selling knock-off Graco products, was filed Dec. 18 in New Jersey District Court by Rivkin Radler on behalf of Graco Inc. and Graco Minnesota. The case, assigned to U.S. District Judge Zahid N. Quraishi, is 3:24-cv-11294, Graco Inc. et al v. Devco Corporation.
Who Got The Work
Rebecca Maller-Stein and Kent A. Yalowitz of Arnold & Porter Kaye Scholer have entered their appearances for Hanaco Venture Capital and its executives, Lior Prosor and David Frankel, in a pending securities lawsuit. The action, filed on Dec. 24 in New York Southern District Court by Zell, Aron & Co. on behalf of Goldeneye Advisors, accuses the defendants of negligently and fraudulently managing the plaintiff's $1 million investment. The case, assigned to U.S. District Judge Vernon S. Broderick, is 1:24-cv-09918, Goldeneye Advisors, LLC v. Hanaco Venture Capital, Ltd. et al.
Who Got The Work
Attorneys from A&O Shearman has stepped in as defense counsel for Toronto-Dominion Bank and other defendants in a pending securities class action. The suit, filed Dec. 11 in New York Southern District Court by Bleichmar Fonti & Auld, accuses the defendants of concealing the bank's 'pervasive' deficiencies in regards to its compliance with the Bank Secrecy Act and the quality of its anti-money laundering controls. The case, assigned to U.S. District Judge Arun Subramanian, is 1:24-cv-09445, Gonzalez v. The Toronto-Dominion Bank et al.
Who Got The Work
Crown Castle International, a Pennsylvania company providing shared communications infrastructure, has turned to Luke D. Wolf of Gordon Rees Scully Mansukhani to fend off a pending breach-of-contract lawsuit. The court action, filed Nov. 25 in Michigan Eastern District Court by Hooper Hathaway PC on behalf of The Town Residences LLC, accuses Crown Castle of failing to transfer approximately $30,000 in utility payments from T-Mobile in breach of a roof-top lease and assignment agreement. The case, assigned to U.S. District Judge Susan K. Declercq, is 2:24-cv-13131, The Town Residences LLC v. T-Mobile US, Inc. et al.
Who Got The Work
Wilfred P. Coronato and Daniel M. Schwartz of McCarter & English have stepped in as defense counsel to Electrolux Home Products Inc. in a pending product liability lawsuit. The court action, filed Nov. 26 in New York Eastern District Court by Poulos Lopiccolo PC and Nagel Rice LLP on behalf of David Stern, alleges that the defendant's refrigerators’ drawers and shelving repeatedly break and fall apart within months after purchase. The case, assigned to U.S. District Judge Joan M. Azrack, is 2:24-cv-08204, Stern v. Electrolux Home Products, Inc.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
