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.
The board of McCarthy & Stone recommended the offer from Mars Bidco, the bid vehicle for Permira and Barclays Capital this morning (17 July), which offered 1,000 pence per share. The deal values the company at £1.028bn.
Slaughters is representing Bidco on the acquisition. Clifford Chance partners Mark Campbell and James Butters have won the mandate to advise Citigroup and Dresdner Kleinwort, Mars Bidco’s financial advisers.
Travers Smith is acting for longstanding client McCarthy & Stone led by partners Oliver Barnes and Neal Watson.
A second consortium consisting of Bank of Scotland Corporate, Aldergate Investments and West Coast Capital is understood to have made a rival bid for McCarthy & Stone.
Although the Mars Bidco price has been recommended by the board, the bid has been made through a scheme of arrangement and will need 75 per cent shareholder approval, which could play into the hands of the rival bidder.