Mergers & Acquisitions

Simpson Thacher and Skadden Arps Handle Mars-Wrigley Deal

Two powerhouse law firms are handling details of candy maker Mars Inc.’s $23 billion buyout of the Wrigley chewing gum company. Simpson Thacher & Bartlett handled the negotiations for Mars, the AmLaw Daily blog reports. Wrigley is represented by Skadden, Arps, Slate, Meagher & Flom. The Wall Street Journal reports…

Apr 29, 2008 1:39 PM CDT

To Delete or Not to Delete? Not Doing So Puts Deal Lawyer on Hot Seat

In Peter Ehrenberg’s 34-year legal career, testifying in December in a Georgetown, Del., courtroom was clearly a low point for the Lowenstein Sandler partner. Like other M&A lawyers, he had found the second half of 2007 a difficult time to try to close deals. But Ehrenberg got particularly unlucky. Contested…

Apr 25, 2008 8:17 PM CDT

Drinker Biddle Revenue Up, Partner Profits Down

At nearly 160 years old, Drinker Biddle & Reath is as healthy as ever, with soaring revenues thanks to a merger with Chicago’s Gardner Carton & Douglas. The Legal Intelligencer reports that after the merger, both the firm’s revenue and headcount grew by more than 40 percent. Leadership also organized…

Apr 24, 2008 10:25 AM CDT

Littler Absorbs Boutique, Opens in Detroit

Labor and employment powerhouse Littler Mendelson is continuing its Midwest expansion by opening an office in Detroit. More than 700 lawyers strong, Littler is making the move by absorbing the boutique firm DeWitt, Balke & Vincent, according to a release. “This addition to Littler will significantly enhance our ability to…

Apr 22, 2008 2:40 PM CDT

Kirkland & Ellis Snags 3 Partners from Mayer Brown

One Chicago-based BigLaw firm reportedly has just raided another of three partners. Bruce Gelman, Thomas Geraghty and Joshua Hanna have left Mayer Brown are now practicing at Kirkland & Ellis, reports Legal Week. Gelman and Geraghty are tax lawyers, and Hanna specializes in real estate and private equity matters.

Apr 15, 2008 8:32 PM CDT

As U.S. Deals Dry Up, Law Firms Go Abroad; $150K Moving Bonuses

Although the number of corporate deals has plummeted in the U.S., starting midway through last year, overseas mergers and acquisitions are a booming business. So American law firms are going where the work is, revving up their foreign offices at the same time that some are downsizing at home, reports…

Apr 11, 2008 4:05 PM CDT

Law Firm Merger Pace on Even Keel; Charlotte ID’d as ‘Hot Market’

Law firm mergers have kept to a steady pace for the past four quarters and aren’t expected to change much despite a weakening economy. This from legal management consultancy Altman Weil, which is reporting that there were 17 law firm mergers and acquisitions in the first quarter of 2008, according…

Apr 2, 2008 8:20 PM CDT

Global Dealmaking Drops More Than Two-Thirds for Big Law Firms

Mergers and acquisitions work has plummeted by more than two-thirds for large law firms, according to new figures on the number of clients represented. The top 10 law firms represented 180 clients in global mergers-and-acquisitions deals for the year’s first quarter, down from 662 representations last year, according to preliminary…

Apr 1, 2008 10:56 AM CDT

Federal Judge Blocks Bear Exec From Leaping to New Company

A federal judge issued an order yesterday that bars a former Bear Stearns executive from joining Morgan Stanley. The order by U.S. District Judge Nathaniel Gorton in Boston said Bear Stearns was likely to succeed on the merits of its case against Douglas Sharon, Reuters reports. Sharon was executive director…

Mar 28, 2008 12:04 PM CDT

Misdirected E-Mail Set the Stage for Clear Channel Suits

A misdirected e-mail from Credit Suisse helped set the stage for two lawsuits filed this week by two private equity firms seeking to purchase Clear Channel Communications, the New York Times reports. The suits accuse Credit Suisse and five other banks of breaching a contract to finance the $19.5 billion…

Mar 27, 2008 3:00 PM CDT

Wachtell Lipton Tapped to Handle Motorola Spat and Split

Wachtell, Lipton, Rosen & Katz is representing Motorola in its split into two publicly traded companies and its spat with an activist shareholder. A spokesman told the American Lawyer that corporate partners Patricia Vlahakis and Gregory Ostling are handling the matter as well as the company’s proxy battle with shareholder…

Mar 27, 2008 1:11 PM CDT

Two Pension Funds Seek TRO Against Bear Stearns Stock Sale

Two Michigan-based pension funds are asking a Delaware court to issue a temporary restraining order to block a stock arrangement that facilitates JPMorgan Chase’s takeover of Bear Stearns. The funds want to stop JPMorgan’s plan to buy 95 million newly issued shares in Bear Stearns, report the Wall Street Journal…

Mar 26, 2008 1:02 PM CDT

Was Bear Stearns Guarantee a Mistake by Wachtell Lipton?

Legal tongues are wagging over a report that raised questions about whether lawyers at Wachtell, Lipton, Rosen & Katz made a mistake in JPMorgan’s original contract offer to buy Bear Stearns for $2 a share. A person briefed on contract talks told the New York Times that a clause inadvertently…

Mar 25, 2008 6:56 PM CDT

Thirty-Six Percent

The percentage of company officers and outside advisers who believe that the American mergers and acquisitions market will be strong in 2008, according to Dykema Gossett’s third annual M&A forecast survey, released late last year. That number represents a steady decline from previous years—in 2006, 63 percent of respondents held…

Mar 1, 2008 6:01 AM CST

GC of Troubled Sallie Mae Resigns, Says He Wants to Spend Time With Family

Sallie Mae’s general counsel Robert Lavet resigned at the end of January, in advance of two investor lawsuits against the student lender. Lavet told Corporate Counsel he resigned to spend more time with his family. “Obviously it was a difficult year, but I just decided I needed some time off”…

Feb 7, 2008 3:04 PM CST