Lifetime Achievement Award: Eileen Nugent
While her client counseling alone would have enabled Eileen to make a profound impact, her tireless commitment to thought leadership and the development of the M&A bar has influenced practitioners globally.
October 05, 2018 at 03:00 PM
5 minute read
Over her 30+ years at Skadden, Eileen Nugent has emerged as one of the most respected and influential M&A attorneys in the world, advising on cutting edge matters across the deal landscape. Public company boards of directors and private equity funds have routinely called on Eileen for her wisdom, creativity and, above all, incomparable deal sense and judgment.
Her ability to innovate has repeatedly set her apart and literally changed how practitioners think about deals, from high-profile contested situations, like Warner Lambert's acquisition by Pfizer and Cephalon's defense against an unsolicited bid by Valeant and sale to Teva, to groundbreaking approaches to LBOs, such as Burger King's acquisition by 3G and Avaya's acquisition by Silver Lake and TPG. Beyond transactional brilliance, Eileen's presence has been felt deeply as a long-term constant in boardrooms, including her decades-long work for Endo and guidance of American Standard through a whole-company transformation.
While her client counseling alone would have enabled Eileen to make a profound impact, her tireless commitment to thought leadership and the development of the M&A bar has influenced practitioners globally. For instance, as co-author of perhaps the most well-known and thoroughly cited treatise on M&A (Negotiated Acquisitions of Companies, Subsidiaries and Divisions), Eileen has shaped the thinking of the M&A community, from fellow practitioners to Delaware jurists. Moreover, as the vice chair and a driving force behind the emergence and development of the annual Tulane M&A Institute, Eileen's influence has transcended the legal field to the investment banking and hedge fund communities.
Despite her high profile, Eileen remains a “lawyer's lawyer,” constantly sought out for advice by peers and a dedicated mentor and role model for younger attorneys. In particular, she has been a trailblazer for women in M&A, in both the legal and investment banking professions, serving as a model of success and source of advice and support. Not content with shaping the present, Eileen is hard at work influencing the next generation of M&A as an adjunct professor at the University of Virginia School of Law and Cornell Law School and teaching classes at Harvard Law School and NYU School of Law.
—Brandon Van Dyke
From the first day I walked into Skadden's N.Y. office 16 years ago, I've had the privilege of sitting a few doors away from Eileen Nugent—an incredibly fortunate front seat from which to watch (and occasionally participate in) the second half of her amazing Skadden career. Eileen is the quintessential problem solver. She always seems to spot tough issues well in advance—”seeing what's around the corner”—and has the extraordinary intellect to design unique solutions to solve clients' most challenging problems.
Recently, Eileen advised a consortium led by China's Anbang in its attempt to buy Starwood Hotels and break up Marriott's planned purchase of Starwood. Anbang was successful in wooing Starwood with an all-cash $13.2 billion binding offer. It would have been the largest takeover by a Chinese buyer of a U.S. target in history. (Anbang ultimately withdrew its bid, citing various market considerations.)
Eileen is made for these types of high-profile deals—she is calm under pressure, tireless in pursuing clients' objectives and innovative in designing solutions. She also is masterful in delivering legal advice on tough issues in plain English to help decision-makers navigate the murky waters of M&A deal strategy. Her advice always reflects her best judgement on tough issues—it is not shaped by client pressures or external forces. As Eileen has often told me, sometimes clients need to hear advice they don't like—she makes sure clients receive the counsel they need, rather than simply what they want to hear.
Eileen also has held numerous senior management positions at Skadden, including head of our New York office, a member of our policy committee and co-head of our global transactions practices—the first woman to hold that role at Skadden. During her tenure as co-head of the transactions practices, Skadden became the first law firm to advise on more than $1 trillion in M&A transactions in a single calendar year.
Despite countless client and firm demands on her time, she has always been approachable, patient and eager to encourage, consult, advise and teach young lawyers. Several generations of associates and partners have learned from her example and benefited from having the most thoughtful, creative and caring mentor imaginable.
Eileen's intellect, charisma and drive have enabled her to become one of the most respected M&A lawyers in the world, while also leading the way for the next generation of women lawyers at Skadden and throughout the industry. Forged among the many Skadden stars of the prior generation, she has passed on the firm's unique culture of teamwork, client service, innovation and problem-solving. In doing so, she has had a profound impact on Skadden that will continue for years to come.
—Michael Civale
Brandon Van Dyke and Michael Civale are partners at Skadden.
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