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International Edition

Herbert Smith and Freehills lead on multimillion-dollar pharma sale

Herbert Smith has taken a lead role opposite potential merger partner Freehills on the A$375m (£254m) sale of Australian pharma company Ascent Pharmahealth to US company Watson Pharmaceuticals. Herbert Smith advised the majority seller, Indian pharma company Strides Arcolab, a new client for the firm, with a team led by City corporate partner Alan Montgomery (pictured) alongside tax partner Isaac Zailer and intellectual property partner Joel Smith.
2 minute read

International Edition

Herbert Smith confirms Australia merger discussions to firm's staff

Herbert Smith has officially confirmed to staff that it is in merger talks with Australia's Freehills, issuing a note to all staff earlier this morning (3 February). The note from senior partner Jonathan Scott informs staff that an interesting opportunity has arisen in Australia, with the firm holding "exploratory talks" with Freehills about a possible link-up.
2 minute read

International Edition

Clydes ramps up expansion plans with Beijing and Australia launches targeted

Clyde & Co has added Beijing, Australia and Mexico to its list of international targets, as the insurance leader ploughs ahead with plans to expand in the US. The firm is currently weighing up office launches in Beijing and Australia in a bid to take advantage of the booming Asia-Pacific market, with both the east and west coast of Australia under consideration.
2 minute read

International Edition

Morrison & Foerster seals Hong Kong IPO triple

Morrison & Foerster (MoFo) has signed off three multimillion-dollar listings on the Hong Kong Stock Exchange in recent weeks, as Asian capital markets work continues to grow in importance for international law firms. The US law firm advised the underwriters – China International Capital Corporation, UBS and Royal Bank of Scotland – on the $300m (£194m) initial public offering (IPO) of Chinese power company Guodian Technology and Environment Group, which listed on 30 December.
2 minute read

International Edition

Herbert Smith in talks to build global platform with top-tier Australian firm

Herbert Smith has become the latest UK law firm to set its sights on the coveted Australia market, with the firm entering into merger talks with Freehills. The two firms are holding exploratory discussions about a tie-up, with all options under consideration – including a full merger, a Swiss verein-style deal or a joint venture agreement.
4 minute read

International Edition

A&O leads for Asia M&A while Linklaters and Freshfields dominate lean Euro market

Allen & Overy (A&O) has emerged as the top-ranked UK M&A adviser in 2011 in the strategically key Asia-Pacific market, securing an apparent vindication for its sustained push in the region. Figures from Legal Week's exclusive data provider Mergermarket show A&O leading the Asia-Pacific rankings (which exclude Japan) in value terms after advising on 53 deals with a combined value of $50.5bn (£32.7bn) in 2011, well ahead of international rivals. The firm was also the highest ranked City practice according to number of Asia deals, in sixth place overall.
6 minute read

International Edition

White & Case and Linklaters head up Indonesia Govt's $1.75bn sovereign debt issue

White & Case and Linklaters are among a number of firms to have won roles on the Indonesian Government's $1.75bn (£1.1bn) sovereign debt issue on the Singapore Exchange, reports The Asian Lawyer. White & Case is advising on US law aspects of the issue. Jakarta-based Thamrin & Rachman Law Firm is providing Indonesian counsel to the issuer, with Allen & Gledhill - which is currently in talks over a tie-up with Allen & Overy - providing Singapore counsel.
2 minute read

International Edition

Fifteen-lawyer Reed Smith Hong Kong team breaks away to join new spin-off

Reed Smith is to lose 15 lawyers in Hong Kong as part of a 50-strong team leaving to join a trio of ex-former partners at newly formed firm Howse Williams Bowers (HWB). The team, which includes 35 members support staff, will reunite with Reed Smith's former co-head of professional indemnity Chris Howse, insurance litigation partner Kevin Bowers and corporate partner Chris Williams, who all quit in December to form HWB.
2 minute read

International Edition

Simpson Thacher confirms plan to launch in Korea

Simpson Thacher & Bartlett has announced plans to open an office in Seoul, reports The Asian Lawyer. The US firm said in a statement that it will open in the South Korean capital "as soon as practicable in 2012." The announcement follows the ratification of a trade deal between the US and Korea, the passage of which opens the way for US firms to apply to enter Korea's legal market as of this month.
2 minute read

International Edition

King & Wood Mallesons to operate three-strand partnership post merger

The tie-up between Australia's Mallesons Stephen Jaques and China's King & Wood will operate under a three-partnership Swiss verein structure it has emerged, as final details of the combined firm are disclosed. The combination will see three separate partnerships created in Australia, China and Hong Kong as a result of Chinese regulatory constraints that meaning the firms cannot combine financially in a full merger.
3 minute read

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