Magic circle trio line up on £2.5bn sale of Durex manufacturer
Slaughter and May, Allen & Overy (A&O) and Clifford Chance (CC) have secured roles on the £2.5bn sale of Durex manufacturer SSL to cleaning products group Reckitt Benckiser. Slaughters advised Reckitt Benckiser with a team including corporate partner Jeffrey Twentyman and associates Anna Lee and Dan Won. The deal team included finance partners Andrew Balfour and Andrew McClean, competition partner Claire Jeffs and pensions and employment partner Eddie Codrington.
July 21, 2010 at 09:33 AM
2 minute read
Slaughter and May, Allen & Overy (A&O) and Clifford Chance (CC) have secured roles on the £2.5bn sale of Durex manufacturer SSL to cleaning products group Reckitt Benckiser.
Slaughters advised Reckitt Benckiser with a team including corporate partner Jeffrey Twentyman and associates Anna Lee and Dan Won. The deal team included finance partners Andrew Balfour and Andrew McClean, competition partner Claire Jeffs and pensions and employment partner Eddie Codrington.
A&O corporate partner Richard Hough led the firm's team for SSL and while CC finance partner Nicola Wherity advised HSBC on the £1.25bn loan facility being used to finance the offer. Deutsche Bank also provided financial advice for Reckitt Benckiser.
Hough commented: "The offer is at a significant premium to the SSL share price and represents a four-fold increase over the past five years. This is down to the management team's vision and ability to build a global consumer brand business and generate exceptional shareholder value."
Reckitt Benckiser said that the deal would expand its presence in China and Japan.
The deal comes in the same week that Slaughters secured a role on another multibillion-pound mandate after being instructed to advise engineering company Tomkins on a bid £2.9bn for the company.
The bidding consortium, which comprises private equity group Onex Corporation and the Canada Pension Plan Investment Board, is being advised by Freshfields Bruckhaus Deringer.
This content has been archived.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
Kirkland, Macfarlanes Act as Evelyn Partners Offloads £700M Professional Services Arm
2 minute read
Elon Musk Taps UK Top 50 Firm for London Launch of AI Business
Trending Stories
- 1Supreme Court Takes Up Challenge to ACA Task Force
- 2'Tragedy of Unspeakable Proportions:' Could Edison, DWP, Face Lawsuits Over LA Wildfires?
- 3Meta Pulls Plug on DEI Programs
- 4On the Move and After Hours: Meyner and Landis; Cooper Levenson; Ogletree Deakins; Saiber
- 5State Budget Proposal Includes More Money for Courts—for Now
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
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
