Dentons and Freshfields kick off £133m Newcastle Utd takeover bid
Freshfields Bruckhaus Deringer and Denton Wilde Sapte have bagged plum roles on the latest takeover attempt of a major English football club, with Newcastle United the target of a £133m bid by UK billionaire Mike Ashley. Freshfields corporate partner Christopher Mort led a team advising Ashley on his acquisition last week of a 41.6% stake in the Premiership club from president Sir John Hall.
May 30, 2007 at 10:59 PM
2 minute read
Freshfields Bruckhaus Deringer and Denton Wilde Sapte have bagged plum roles on the latest takeover attempt of a major English football club, with Newcastle United the target of a £133m bid by UK billionaire Mike Ashley.
Freshfields corporate partner Christopher Mort led a team advising Ashley on his acquisition last week of a 41.6% stake in the Premiership club from president Sir John Hall.
Ashley, who owns Sports Direct, bought the £55m stake through special-purpose vehicle St James' Holdings. He now has 28 days to make a formal offer for the club's remaining share capital.
Dentons advised the vendors, as well as Wynyard, Cameron Hall Developments and Cameron Hall Developments Executive Pension Scheme, all of which are owned by Sir John Hall's family. Corporate partner Jeremy Cohen led the team for Newcastle United, with assistance from Dubai-based corporate partner Neil Nicholson.
Dentons was also instructed on Sheffield United's battle with the FA Premier League over West Ham United's punishment for transfer irregularities.
Meanwhile, Ashurst corporate partner Robert Ogilvy Watson, supported by corporate associate Tom Mercer, acted for Kaupthing Singer & Friedlander, which provided financial advice to the acquisition vehicle.
The bid also generated a role for Pinsent Masons, with the UK firm advising Newcastle United's board of directors on the club's formal response to the offer. Martin Shaw, Pinsents' head of corporate in Leeds, is leading the team.
The deal signals the latest high-stakes bid to hit the Premiership after Liverpool, Manchester United and West Ham United have all gone under the hammer in recent years.
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