The Lawyer Africa Elite 2014 features an in-depth look at 46 leading independent firms’ strategies in 15 key sub-Saharan jurisdictions, as well as the views of in-house counsel from some of Africa’s largest companies... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Slaughter and May client Alliance-Boots will open its books to Kohlberg Kravis Roberts (KKR) now that the private equity house has upped its offer for the high street giant by 40p per share.
KKR, which is backing a management buyout of Alliance-Boots by its deputy chairman and largest individual shareholder Stefano Pessina, has upped its offer to £10.40 per share after its initial offer was rebuffed. The new bid values the company at £10bn.
As first reported by The Lawyer (12 March), KKR is being advised by Clifford Chance, while Macfarlanes and French firm Darrois Villey Maillot Brochier are advising Pessina.
KKR is also one of the private equity houses in the consortium represented by Clifford Chance that is currently mulling an offer for Linklaters client J Sainsbury, the UK’s third-largest supermarket.
The new Alliance-Boots offer is still subject to due diligence and recommendation by its board, but given that Italian billionaire Pessina knows the company so well, analysts are predicting that it will be undertaken swiftly and with no surprises.
The offer follows the release of a trading statement on 28 March, which Alliance-Boots denied was a defence document. The statement predicted growth of 1.6 per cent and outlined a £65m rebranding, the company's largest-ever programme of its kind.