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International Edition

CC, SJ Berwin and Mayer Brown win roles on €580m Caterpillar-3i deal

Clifford Chance (CC), SJ Berwin and Mayer Brown have advised on Caterpillar's €580m (£517m) acquisition of a German engine manufacturing company from 3i Group, reports the Am Law Daily. Caterpillar, the world's largest construction company, has agreed to acquire MWM Holding from UK private equity firm 3i after being outbid for the company three years ago when 3i paid £360m for MWM. CC advised 3i on the deal, while SJ Berwin provided tax counsel to the private equity firm, with German private equity and M&A partner Gerald Thomas leading the firm's team.
2 minute read

International Edition

Takeover proposals set to force corporates to disclose legal fees

Corporate law firms could face increasing scrutiny of their M&A fees as part of proposals by the UK Takeover Code Committee to overhaul merger rules and protect target companies from hostile bids. The proposals - published yesterday (21 October) in response to a consultation carried out after Kraft's controversial takeover of Cadbury - include a suggestion that corporates should disclose a breakdown of estimated fees payable to advisers. This would include fees payable to law firms as well as financial advisers, accountants and PR advisers.
3 minute read

International Edition

SJ Berwin elects corporate specialist Day as new managing partner

SJ Berwin has elected its new managing partner, with corporate partner Rob Day set to take the helm next month (1 November). Day, who was the favourite to take the top job, saw off competition from fellow corporate partner Perry Yam to win the final vote, which closed earlier today (22 October). The third candidate for the post, London litigator Hilton Mervis, was eliminated in a first round of voting that closed last week.
2 minute read

International Edition

Simmons keeps US tie-up on the table as part of growth strategy

Simmons & Simmons has told its partners that a transatlantic tie-up remains an option for the firm, despite the breakdown of merger discussions with Mayer Brown earlier this year. The UK top 15 law firm's management used its annual partner weekend earlier this month (9-10 October) to stress that while a US merger is not a key strategic target, management at the firm still considers it a possibility.
2 minute read

International Edition

Three-lawyer CC team quits Madrid office to join A&O in Spanish capital

Allen and Overy (A&O) has bulked up its Spanish arm with the hire of a trio of lawyers from Clifford Chance (CC). Corporate partner Pablo Mayor has joined A&O in Madrid after 10 years as a partner at CC. Senior associate Victoria Martin and associate Jose Perez-Campoamor have also joined A&O from CC Madrid alongside Mayor.
2 minute read

International Edition

OFT/CC merger - a system with mixed motives?

One of the worst-kept secrets in the world of competition law became official last week: the UK Government is planning to merge the Office of Fair Trading (OFT) and the Competition Commission (CC). Along with the Advisory Committee on Historic Wreck Sites, the Pesticides Residues Committee and the Zoos Forum, these pillars of the UK competition system have been singled out for attention in Vince Cable's bonfire of the quangos.
4 minute read

International Edition

Skadden and Ropes & Gray power up with roles on $9.5bn US utilities merger

Skadden Arps Slate Meagher & Flom and Ropes & Gray have taken the lead roles on a $9.5bn ($6bn) merger which will creating one of the largest utilities companies in the US, reports The Am Law Daily. Northeast Utilities has agreed to pay more than $4bn (£2.5bn) to absorb NSTAR, forming a company with a total enterprise value of $17.5bn (£11bn). The company will continue to be known as Northeast Utilities.
2 minute read

International Edition

A&O takes lead role for Rosneft on $1.6bn international oil deal

Allen & Overy (A&O) and Curtis Mallet-Prevost Colt & Mosle have advised on the $1.6bn (£1bn) acquisition of a 50% stake in a German refinery by Russian oil company Rosneft. Rosneft has acquired the stake in Ruhr Oel from Venezuelan oil company Petroleos de Venezuela (PdVSA). Ruhr Oel was previously a 50/50 joint venture between BP and PdVSA. A&O advised Rosneft, fielding a team led by corporate partner Tim Shilling alongside corporate partner James Roe.
2 minute read

International Edition

Speechly Bircham recruits former Mayer Brown partner for City base

Speechly Bircham has bolstered its City corporate practice with the hire of a former Mayer Brown partner. Jonathan Crawford joins the firm's London office as a partner in the financial services team and will focus on large, cross-border transactional work, working closely with financial services sector group head Nick Janmohamed. At Mayer Brown his practice focused on M&A, restructurings and joint venture transactions. He left at the end of last year after 11 years at the firm, prior to which he was a lawyer at DLA Piper - joining legacy firm Alsop Wilkinson in Liverpool in 1995.
2 minute read

International Edition

SJB managing partner race down to two candidates after first vote

SJ Berwin's managing partner elections are set to go to a second round after litigation partner Hilton Mervis lost out in the first round of voting that closed on Friday (15 October). The two remaining candidates are now Rob Day and Perry Yam, both of who are corporate partners in the firm's City base. The second round of voting will close on Friday this week (22 October) when the firm's next managing partner will be announced.
2 minute read

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