Slaughter and May and Sullivan & Cromwell are among four firms that have all won roles on Canadian insurance and investment business Fairfax Financial's $1.8bn (£1.2bn) takeover offer for speciality insurer and reinsurer Brit.

Under the terms of the offer shareholders in Brit, which floated on the London Stock Exchange last year, will receive 305p a share, a premium of 11% on Brit's closing price on Monday.

London corporate partners Jeremy Kutner and Laurence Levy at Shearman & Sterling are advising Fairfax.

The majority shareholders in Brit are private equity houses Apollo and CVC, which together own around 73% of the insurer's share capital.

Apollo, the largest shareholder with nearly 40%, is taking advice from Sullivan & Cromwell London corporate partners Tim Emmerson (pictured) and Ben Perry.

Slaughters is taking the lead role for Brit, who are instructing a team including corporate partners Jeff Twentyman and Richard Smith.

Brit is handling elements of elements in house led by Tim Harmer, while Paul, Weiss, Rifkind, Wharton & Garrison is understood to be acting as US counsel with global capital markets and securities practice group head Mark Bergman.

Sullivan has been advising on Apollo's investment in Brit for nearly five years, from the private equity group's original takeover of the insurer with CVC Capital Partners in 2010, through to Brit's initial public offering (IPO) in March 2014.

Macfarlanes also acted for Brit on the 2010 buyout, fielding a team that included senior partner Charles Martin.

The Fairfax acquisition is now awaiting approval from the Prudential Regulation Authority (PRA).