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International Edition

Slaughters, CC and Linklaters score top roles on Arsenal takeover bid

Slaughter and May, Clifford Chance (CC) and Linklaters are among a line-up of firms to have won roles on US businessman Stan Kroenke's full takeover bid for Arsenal Football Club, which values the North London club at £731m. The deal has also handed roles to Herbert Smith and White & Case, with the duo advising on the financing. Kroenke, who has turned to CC City partner Tim Lewis for advice, agreed to launch a mandatory full takeover this weekend after his company Kroenke Sports Enterprises (KSE) acquired a majority stake in the club. He now holds 62.89% of shares in the Premier League club.
2 minute read

International Edition

Freshfields leads array of firms advising on German float

Freshfields Bruckhaus Deringer and Dechert are among a raft of advisers to pick up roles on the €386m (£340m) initial public offering (IPO) of German industrial parts maker Norma Group on the Frankfurt Stock Exchange. Freshfields and Dechert jointly advised the issuer - a portfolio company of private equity house 3i - with teams led by Frankfurt capital markets partner Andreas Koenig and Munich corporate partner Berthold Hummel respectively.
2 minute read

International Edition

A&O wins role alongside US duo on $2.35bn Pringles deal

Allen & Overy (A&O) has won a role to advise Diamond Foods on its $2.35bn (£1.4bn) merger with the Pringles unit of Procter & Gamble (P&G). In the transaction, P&G will receive 29 million shares of Diamond common stock worth $1.5bn (£920m), which will constitute 57% of the merged entity, reports The Am Law Daily. At the same time, US food company Diamond will assume $850m (£521m) in Pringles debt, giving Diamond shareholders a 43% stake in the merged company.
2 minute read

International Edition

Firm trio line up on £760m Scots port operator takeover

Linklaters, Clifford Chance (CC) and Scottish leader McGrigors have taken major roles on Arcus Infrastructure Partners' £760m takeover of Scottish ports operator Forth Ports. Linklaters took the lead role for the acquirer, which already holds a 22.8% stake in the company. The magic circle firm fielded a team led by London corporate partner Iain Wagstaff (pictured), who manages the relationship with Arcus.
2 minute read

International Edition

Simmons, SNR Denton, Bevan Brittan and OC lead on innovative energy deal

Simmons & Simmons, SNR Denton, Bevan Brittan and Osborne Clarke have lined up to advise on a £230m energy deal in Devon. The private finance initiative deal sees top 15 City firm Simmons advising German energy company MVV Umwelt, which has struck a deal with three local councils - Plymouth, Torbay and Devon County - to build a 245,000-tonne energy plant in the Devonport Dockyard.
2 minute read

International Edition

Dealmaker: Dominic Griffiths

Mayer Brown's finance chief says he's the annoying optimist at the office - and he wears mustard cords...
4 minute read

International Edition

CC tops Q1 European M&A rankings despite global drop in deal volumes

Clifford Chance (CC) has topped Mergermarket's European deal rankings by volume for the first three months of 2011 - a quarter that saw deal volumes fall both globally and in Europe. The magic circle law firm jumped from sixth place in Europe at Q1 2010 to first place in 2011, with roles on 43 deals worth $34.6bn (£21.3bn). These include transactions such as Criteria CaixaCorp's takeover of the banking business of majority owner La Caixa, worth around $13bn (£8bn).
3 minute read

Legal Week

CC tops Q1 European M&A rankings despite global drop in deal volumes

Clifford Chance (CC) has topped Mergermarket's European deal rankings by volume for the first three months of 2011 - a quarter that saw deal volumes fall both globally and in Europe. The magic circle law firm jumped from sixth place in Europe at Q1 2010 to first place in 2011, with roles on 43 deals worth $34.6bn (£21.3bn). These include transactions such as Criteria CaixaCorp's takeover of the banking business of majority owner La Caixa, worth around $13bn (£8bn).
20 minute read

International Edition

Energy and private equity sectors buck lacklustre market in 2011 Q1

Given M&A trends clearly reflect what's happening in the global economy, Mergermarket's latest quarterly M&A data covering the first three months of the 2011 calendar year largely confirms the general feeling of uncertainty in the market currently. While there has been a visible increase in private equity mandates and big-ticket transactions such as AT&T and T-Mobile and BP/Rosneft, Mergermarket's data shows deal volumes are broadly down on both the equivalent quarter last year and Q4 2010 - leaving law firms' corporate practices facing another uninspiring year. Even those deal markets that have so far seemed to defy the impact of the recession, such as the Middle East and Africa and Asia, saw bid volumes down significantly. In Africa and the Middle East, volumes were down by 25% in Q1 2011 compared with the last quarter of 2010, and by 30% looking at Q1 last year, with 58 transactions worth $11.4bn (£7.1bn). Meanwhile, volumes fell by nearly 32% in the Asia-Pacific region between Q4 2010 and the beginning of 2011, and by 8.2% looking at January to March last year.
3 minute read

Legal Week

Energy and private equity sectors buck lacklustre market in 2011 Q1

Given M&A trends clearly reflect what's happening in the global economy, Mergermarket's latest quarterly M&A data covering the first three months of the 2011 calendar year largely confirms the general feeling of uncertainty in the market currently. While there has been a visible increase in private equity mandates and big-ticket transactions such as AT&T and T-Mobile and BP/Rosneft, Mergermarket's data shows deal volumes are broadly down on both the equivalent quarter last year and Q4 2010 - leaving law firms' corporate practices facing another uninspiring year. Even those deal markets that have so far seemed to defy the impact of the recession, such as the Middle East and Africa and Asia, saw bid volumes down significantly. In Africa and the Middle East, volumes were down by 25% in Q1 2011 compared with the last quarter of 2010, and by 30% looking at Q1 last year, with 58 transactions worth $11.4bn (£7.1bn). Meanwhile, volumes fell by nearly 32% in the Asia-Pacific region between Q4 2010 and the beginning of 2011, and by 8.2% looking at January to March last year.
14 minute read

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