The Lawyer’s new China Elite report contains the most detailed research available on the PRC legal market and contains unparalleled insight into the country's leading law firms. They vary in size, practice focus and geographic coverage, but they all share one common quality – ambition... 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.
US firms Davis Polk & Wardwell and Jenner & Block have landed the top roles on General Motors’ initial public offering (IPO).
Longstanding GM adviser Jenner is fielding a team led by corporate chief Joseph Gromacki and featuring fellow corporate partners Bill Tolbert and Brian Boch.
Davis Polk is advising the underwriters, a group that includes Morgan Stanley, JPMorgan, Bank of America Merrill Lynch and Citigroup. Corporate partners Richard Drucker and Sarah Beshar led for the New York firm.
The IPO, announced earlier this week, is understood to be worth around $100m (£65m) with share trading potentially raising up to $20bn (£12.9bn). It comes a year after the car giant was bailed out by the US government after it filed for Chapter 11 proceedings in June 2009.
Other firms advising GM on the proceedings and subsequent restructuring of the business included Weil Gotshal & Manges, Dewey & LeBoeuf, Baker & McKenzie. In Europe, Clifford Chance and Gleiss Lutz also acted for the company.
While GM has not disclosed how many shares will be made available in the IPO, it is believed that the offering will see the US Treasury reduce its current 61 per cent stake in the business.