A&O wins Nasdaq/LSE bid as M&A surges
Legal Week reports
November 22, 2006 at 07:03 PM
2 minute read
Allen & Overy (A&O) is the latest firm to win a role on Nasdaq's £2.7bn bid for the London Stock Exchange (LSE) after being called in to beef up the US exchange's adviser roster.
The magic circle firm is the regular adviser to Nasdaq in the UK but had been previously ruled out of earlier involvement because of a conflict with another client aiming to bid for the LSE. Corporate partners Alan Paul and Ian Lopez are leading the A&O team.
The instruction on one of the most closely-watched bids of the year will be regarded as a coup for A&O. However, the future of the bid remains unclear, with the LSE rejecting Nasdaq's offer outright on Monday (20 November).
Skadden Ar ps Slate Meagher & Flom, Nasdaq's traditional US adviser, remains involved in the UK and US, while Freshfields Bruckhaus Deringer is acting for LSE.
Nasdaq's bid came in a record-breaking run of corporate deals with Simpson Thacher & Bartlett and Sidley Austin this week bagging key roles on Blackstone's $36bn (£19bn) acquisition of US office building owner Equity Office Properties Trust. Sidley is representing Equity Office.
Legalweek.com (20-21 November).
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