The Lawyer Asia Pacific 150 is the only research report to provide a ranking of the top 100 independent local firms and top 50 global firms in the region. The report offers critical review of some of the fastest growing firms and their strategies, a country-by-country guide to leading legal advisers and legal services market trends, plus exclusive insight into the current business development opportunities in the Asia Pacific. 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.
A clutch of UK and US firms are celebrating after the board of Cadbury gave the green light to Kraft’s approved offer for the British chocolate maker.
Clifford Chance advised the US food conglomerate on the takeover, with a multi-jurisdictional team led by US corporate partner Sarah Jones and UK corporate partner Guy Norman working on the deal.
Kraft’s other advisers, on a variety of corporate, commercial and securitisation matters, included Arnold & Porter, Dewey & LeBoeuf and Gibson Dunn & Crutcher.
Cravath Swaine & Moore was enlisted to assist on the financing of the takeover bid.
On the sale side, Slaughter and May won the mandate to provide UK advice for longstanding client Cadbury. The Slaughters team was led by corporate partners Steve Cooke and Tim Boxell.
Shearman & Sterling acted for the UK company on the US aspects of the deal, with corporate partner Creighton Condon heading the team. Other Cadbury advisers included Cleary Gottlieb Steen & Hamilton, Squire Sanders & Dempsey and Australian firm Freehills.
Cadbury shareholders will have until 2 February to approve the 850p per share offer after the board today gave its consent to the deal.
If shareholders reject the offer, the door could still be open for other bidders, with Hershey widely believed to be the only viable candidate. It is understood that Linklaters and Sullivan & Cromwell have been working with the US confectioner on a possible counter offer.
The Kraft bid, which is a combination of cash and stock, puts the value of Cadbury at £11.5bn. An initial bid of 740p per share was described as “derisory” by the Cadbury board.