Law firm trio advise as PwC plans Booz purchase
Davis Polk & Wardwell, Cleary Gottlieb Steen & Hamilton and Linklaters have won roles on PricewaterhouseCoopers' (PwC's) proposed takeover of management consulting firm Booz & Co. PwC's advisory arm has reached an agreement with Booz, with the partnership at the latter set to vote on the proposals in December. The value of the deal has not been disclosed.
October 31, 2013 at 08:32 AM
2 minute read
Davis Polk & Wardwell, Cleary Gottlieb Steen & Hamilton and Linklaters have won roles on PricewaterhouseCoopers' (PwC's) proposed takeover of management consulting firm Booz & Co.
PwC's advisory arm has reached a conditional merger agreement with Booz, with the partnership at the latter set to vote on the proposals in December. The value of the deal has not been disclosed.
The deal comes as a number of accountancy firm look to boost their consultancy arms and diversify away from audit and tax.
Cleary's New York team is advising Booz with a team including M&A partners Christopher Austin and Benet O'Reilly, employment partner Arthur Kohn, tax partner Sheldon Alster and intellectual property partner Len Jacoby.
They were supported by lawyers at the firm's Washington base, including antitrust partner Brian Byrne, as well as at the Brussels office.
Davis Polk and Linklaters took roles representing PwC on the deal.
Linklaters' City office fielded corporate partners Richard Godden and Sarah Wiggins, as well as antitrust partner Christian Ahlborn.
The Davis Polk team, spread across the firm's offices in New York and California, includes global M&A co-head David Caplan, corporate partner Edmond FitzGerald, tax partner Rachel Kleinberg, litigator Ronan Harty.
Davis Polk and Linklaters have acted for PwC in the past, both advising the accountancy giant on its role as joint administrator on the Lehman Brothers bankruptcy.
Last year PwC decided to settle all of the collapsed banking group's claims in a $38bn (£23.7bn) agreement, and earlier this year it advised on a settlement agreement in which $9bn (£5.6bn) of assets would return to the defunct bank's customers.
Booz employs more than 3,000 people in 57 offices, while PwC has over 180,000 people in 158 countries.
- Read more on the merger from sister title Accountancy Age
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