Slaughters, A&O take top roles on £1.25bn A&L bid
Slaughter and May and Allen & Overy (A&O) have bagged top roles on the £1.25bn bid for Alliance & Leicester by Banco Santander. The Spanish banking giant announced today that it has put in an offer for British bank Alliance & Leicester, which was formerly a building society.Slaughter and May fielded a team from its London office advising Banco Santander on corporate, competition and regulatory components to the transaction.Corporate chief Frances Murphy, along with corporate partners Roland Turnill and Andrew Jolly, led a large team from the firm, with tax partner Steve Edge, financial regulatory partner Jan Putnis, competition partner Bertrand Louveaux, and pensions and employment partner Roland Doughty assisting.
July 14, 2008 at 11:52 AM
2 minute read
Slaughter and May and Allen & Overy (A&O) have bagged top roles on the £1.25bn bid for Alliance & Leicester by Banco Santander.
The Spanish banking giant announced today that it has put in an offer for British bank Alliance & Leicester, which was formerly a building society.
Slaughter and May fielded a team from its London office advising Banco Santander on corporate, competition and regulatory components to the transaction.
Corporate chief Frances Murphy, along with corporate partners Roland Turnill and Andrew Jolly, led a large team from the firm, with tax partner Steve Edge, financial regulatory partner Jan Putnis, competition partner Bertrand Louveaux, and pensions and employment partner Roland Doughty assisting.
Banco Santander, which is also the sixth-largest banking group in the world, took advice from Uria Menendez, with corporate partner Salvador Sanchez-Teran offering local advice.
The New York-based firm Davis Polk & Wardwell also advised Banco Santander, with corporate partner Nicholas Kronfeld leading.
Meanwhile, A&O advised Alliance & Leicester on the offer, with corporate finance partner Mark Wippell taking the lead role.
The offer is expected to be completed by the autumn and will see Banco Santander wholly acquire Alliance & Leicester.
Last year Alliance & Leicester made all its legal advisers sign standard fee arrangements and tougher terms and conditions, but left its panel line-up unchanged.
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