Freshfields and Linklaters lead on London Stock Exchange and Deutsche Boerse merger talks
Pair advise as the two stock exchange companies enter "detailed discussions" about a "merger of equals"
February 23, 2016 at 10:20 AM
2 minute read
Freshfields Bruckhaus Deringer and Linklaters are advising on the merger talks between the London Stock Exchange (LSE) and Deutsche Boerse.
The two stock exchanges confirmed today that they are in "detailed discussions" about a potential merger.
Freshfields is advising LSE with a team consisting of longstanding adviser and corporate partner Andrew Hutchings, M&A partner Mark Rawlinson and London M&A co-head Piers Prichard Jones.
Meanwhile Linklaters is acting for Deutsche Boerse. Its team is being led by London corporate partner Roger Barron and also includes London corporate partner Simon Branigan and Germany corporate partners Ralph Wollburg and Staffan Illert.
Freshfields has long had a relationship with LSE. In October 2015 the firm acted as LSE sold asset management company Russell Investments for $1.15bn (£752m).
On that deal the team included Peter Lyons, co-head of Freshfields' M&A group, New York corporate partner Doug Bacon and Hutchings.
Hutchings also acted for LSE on its initial acquisition of Russell Investments in 2014 and its 2009 acquisition of Sri Lankan capital markets technology company Millennium IT and trading platform Turquoise.
Legal Week reported yesterday that Prichard Jones is acting for food distributor Sysco on its takeover of the Brakes Group in a $3.1bn (£2.2bn) deal.
Linklaters has acted for Deutsche Boerse in the past, including on its talks with NYSE Euronext in 2011. That deal came to nothing after the European Commission blocked the proposed $9bn (£6.4bn) tie-up in 2012.
On that deal Duesseldorf-based capital markets partner Ralph Wollburg took the lead,working alongside Brussels antitrust chief Alec Burnside. Burnside has since joined Cadwalader Wickersham & Taft.
Morgan Lewis & Bockius advised Deutsche Boerse on its unsuccessful lawsuit against the European Commission following its decision. That litigation was led by Frankfurt managing partner Christian Zschocke.
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