Bakers nips in for £285m Nike-Umbro tie-up
Baker & McKenzie has scooped Nike as a new client as the world's largest sportswear company gears up to buy rival kit-maker Umbro in a £285m takeover bid. City-based corporate partner Tim Gee is leading the Bakers team after winning the mandate to advise Nike on its first major acquisition in the UK. He is joined by corporate partner Tim Sheddick, competition partner Helen Bardell and Jeremy Edwards for human resources matters.
October 23, 2007 at 11:52 AM
2 minute read
Baker & McKenzie has scooped Nike as a new client as the world's largest sportswear company gears up to buy rival kit-maker Umbro in a £285m takeover bid.
City-based corporate partner Tim Gee is leading the Bakers team after winning the mandate to advise Nike on its first major acquisition in the UK. He is joined by corporate partner Tim Sheddick, competition partner Helen Bardell and Jeremy Edwards for human resources matters.
Nike's general counsel for Europe, Africa and the Middle East, Colin Graham, appointed Bakers earlier this year as the company's first major corporate adviser in the UK. Nike has previously turned to regional firms including Dickenson Dees and Brodies for UK-based legal matters.
Longstanding Umbro adviser Lovells is acting for the company, which manufactures the England football shirt, with corporate finance partner Nigel Read leading a team that includes competition partner Susan Bright, Jessica McMichael on share schemes and commercial litigation partner Neil Mirchandani.
The offer which was accepted by Umbro's board this morning, is still subject to shareholder approval and could be jeopardised if JJB Sports and Sports Direct – which together own a 25% stake in the company – decide to block the bid.
Gee said Bakers was not expecting any difficulties from Umbro shareholders and that the firm was excited to be working with such an "iconic" brand.
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