A&O scoops Ericsson work after Slaughters conflict

A Slaughter and May conflict has gifted Allen & Overy (A&O) a mandate to advise Swedish telecoms equipment company Ericsson on its £1.2bn cash deal to buy the bulk of Marconi’s assets. Slaughters, which is retained as corporate legal adviser to both Ericsson and Marconi, is acting for the latter company on the deal. The magic circle firm had to vet lawyers on the Ericsson deal to ensure they were not involved in the high-profile Marconi restructuring. Marconi will use £700m of the sale proceeds to cover pension liabilities and return the rest to shareholders.