Ashurst has bagged a major role opposite Slaughter and May acting for longstanding client Countrywide on the £1bn takeover approach from US private equity group Apollo Management.

Ashurst is advising Countrywide – the UK's largest estate agent – on a bid that values the group at 590p per share. The City giant is fielding a team headed by corporate chief Adrian Clark and which also includes corporate partner Robert Ogilvy-Watson, employee benefits partner Barbara Allen, pensions partner Steven Hull and competition partner Nigel Parr.

Slaughters is advising Apollo takeover vehicle Castle Bidco, with corporate partners Charles Randell and Gavin Brown leading the team for the magic circle firm.