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.
Cleary Gottlieb Steen & Hamilton and Wachtell Lipton Rosen & Katz have helped to create one of the US's largest banking institutions after advising on Capital One Financial's $14.6bn (£8.4bn) acquisition of North Fork Bank.
Capital One will acquire North Fork through a mixture of equity and cash. North Fork shareholders will receive cash or stock valued at $31.18 (£17.83) per share, a 22.8 per cent premium over North Fork's closing share price on 10 March.
The combined company will be one of the US's top 10 banks with deposits of more than $84bn (£48bn), 50 million customer accounts and 655 branches. Capital One is one of the largest credit card issuers in the US, while North Fork is a regional bank headquartered in New York.
Capital One is a longstanding client of Cleary, with the firm having first acted on its IPO around 10 years ago.
Last year Cleary scooped another billion-dollar mandate from Capital One when the credit card issuer put in an offer for New Orleans-based Hibernia Corporation for $5bn (£2.9bn). The deal was first agreed in August 2005 for $5.3bn (£3bn), but was renegotiated a few months later to allow for the impact of Hurricane Katrina.
New York-based corporate partner Jack Murphy led the Cleary team on the acquisition of North Folk, with partner Derek Bush advising on regulatory issues and Arthur Kohn on employment matters.
Wachtell corporate partner Edward Herling advised North Fork.