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Legal Week

Hammonds tools up for £1bn Enodis bid

Hammonds has scored a starring role on a £1bn deal - advising Illinois Tool Works' (ITW) on its takeover bid for kitchen equipment manufacturer Enodis. The firm is fielding a team led by corporate partners Giles Distin and Jane Haxby on the £1.03bn acquisition, acting alongside Kirkland & Ellis and Ropes & Gray, which are providing US advice on the deal.
11 minute read

International Edition

Herbies bags £300m B&B rights issue

Herbert Smith and Freshfields Bruckhaus Deringer have snared the lead advisory roles on the £300m rights issue by UK lender Bradford & Bingley (B&B). Herbert Smith is advising B&B, with the top 10 City outfit fielding a team under corporate chief Michael Walter and fellow corporate partners Adam Levitt and Will Pearce. Also advising are tax partner Derek Hill, employment partner Paul Ellerman and US securities partner Adam Wells.
2 minute read

International Edition

New York duo lead HP's $14bn EDS swoop

Manhattan duo Cleary Gottlieb Steen & Hamilton and Willkie Farr & Gallagher have landed lead roles on the $13.9bn (£7.1bn) acquisition of Electronic Data Systems (EDS) by technology giant Hewlett-Packard (HP). Cleary advised HP, fielding a team led by New York-based M&A partners Christopher Austin, Benet O'Reilly and Victor Lewkow.
2 minute read

International Edition

Kirkland, King & Spalding net $14bn wi-fi JV

Kirkland & Ellis and King & Spalding have bagged lead roles advising on a $14.5bn (£7.3bn) joint venture between ailing telecoms giant Sprint Nextel and Clearwire Corporation to create a high-speed wireless network dubbed WiMax, writes The American Lawyer. Under the terms of the deal, Clearwire - which was founded by cell phone and wireless pioneer Craig McCaw in 2003 - will combine its wireless broadband network with that of Kansas-based Sprint Nextel. The long-term aim is to create a national network that can be accessed from laptops and mobile phones.
2 minute read

International Edition

Dealmaker: Gareth Edwards

He's stumped by basic sartorial questions but Gareth Edwards still heads Pinsents' corporate practice
4 minute read

International Edition

Commentary: The regulator who cried wolf once too often?

The corporate world has truly been turned upside down when the press-friendly dealmakers are edged out of the headlines in favour of more intellectually-minded colleagues in financial services regulation. Aside from the obvious effect of the prolonged credit squeeze, much of that has to do with the more proactive stance by the Financial Services Authority (FSA). After all, with the FSA's once-lauded light-touch approach coming under increasingly critical scrutiny after the Northern Rock collapse, the regulator can scarcely go a week without making a bold claim regarding plans to crack down on its charges.
4 minute read

Legal Week

Commentary: The regulator who cried wolf once too often?

The corporate world has truly been turned upside down when the press-friendly dealmakers are edged out of the headlines in favour of more intellectually-minded colleagues in financial services regulation. Aside from the obvious effect of the prolonged credit squeeze, much of that has to do with the more proactive stance by the Financial Services Authority (FSA). After all, with the FSA's once-lauded light-touch approach coming under increasingly critical scrutiny after the Northern Rock collapse, the regulator can scarcely go a week without making a bold claim regarding plans to crack down on its charges.
8 minute read

International Edition

Walker Morris wins £200m role on subprime lender's rights deal

Yorkshire leader Walker Morris has secured a lead role alongside Freshfields Bruckhaus Deringer on a £200m rights issue for subprime lender Cattles as the credit squeeze continues to generate work for legal advisers.The rights issue, which was finalised on 23 April, will raise capital for the FTSE 250 company to support an application to the Financial Services Authority for a banking licence, which requires higher capital strength.
2 minute read

International Edition

Dechert and Skadden Arps secure trophy public float on Czech £1.1bn mining IPO

Dechert has landed a trophy corporate role advising Czech coal mining company New World Resources (NWR) on a flotation on the main stock exchanges in London, Prague and Warsaw that could be worth up to £1.1bn.The deal, which was scheduled for an early May listing as Legal Week went to press, is set to be the largest ever in Czech history and the largest European initial public offering (IPO) this year. It will also be the first to have a triple listing on the three bourses.
2 minute read

International Edition

UK duo taste success on PepsiCo drinks deal

Memery Crystal and Hammonds have won roles on the sale of Vitamin Brands to PepsiCo.Memery Crystal was instructed for the first time to advise PepsiCo on the acquisition of Vitamin Brands - the owner of the UK vitamin and water brand V Water.
2 minute read

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