CC advises Aviva on £17bn swoop for Pru

Clifford Chance has strengthened its ties with longstanding client Aviva, scooping the lead role on the insurance company’s £17bn offer for rival Prudential.

Prudential announced it had rejected the offer from Aviva last week, with Prudential shareholders due to be lobbied this week to support the potential takeover.

Clifford Chance corporate partners Adam Signy and David Pudge are leading the team advising Aviva. The firm also acted on the General Accident and Commercial Union merger in 1998 and its merger with Norwich Union in 2000 to form CGNU. CGNU later changed its name to Aviva.

Slaughters’ corporate partner William Underhill is acting for long-standing client Prudential.