Bakers guides nike through umbro bid

Baker & McKenzie has pulled off a coup by scooping the lead role advising Nike on its £284m takeover bid for UK sportswear maker Umbro.

The firm won the instruction through a beauty parade to register its first corporate deal for the sportswear giant.

Bakers’ relationship with Nike has been built by the IP team, which has worked on international trademark issues for the company. M&A partner Timothy Gee is leading Bakers’ team.

Umbro has turned to general corporate counsel Lovells, led by corporate finance partner Nigel Read.

Lovells counts Umbro as a longstanding client and has advised on Doughty Hanson’s 1999 management buy-in of Umbro and on Umbro’s 2004 London Stock Exchange listing.

The offer has been accepted by Umbro’s board but is now subject to shareholder approval and lengthy competition clearance in up to 12 jurisdictions, which Bakers will also advise on.

JPMorgan Cazenove and Merrill Lynch acted as financial advisers for Umbro and Nike respectively.