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.
Poor old Allen & Overy (A&O). Slaughter and May was under the spotlight as Alliance-Boots general counsel Marco Pagni gave the firm the ne plus ultra of instruction - the £10bn management buyout backed by Clifford Chance client Kohlberg Kravis Roberts (KKR) - leaving Alliance-Boots' other panel firm A&O in the wings. The two firms had been battling it out to see which would be the high street giant's favourite, favourite, favourite firm.
What's more, A&O had been tantalisingly close to an instruction on the financing side too, with one bank, understood to be JPMorgan, wanting to use A&O. But the recommendation came too late, with Linklaters already having been instructed.
In this instance the chance of turning a job down on a conflict would have been a consummation devoutly to be wished.
Not that conflicts seem to matter too much on this deal: Merrill Lynch made the very unusual move of happily crossing the floor, from being broker for Alliance-Boots to advising its deputy chairman Stefano Pessina and KKR, reportedly with Alliance-Boots' blessing.