Macquarie finally throws in the towel for LSE bid A week is a long time in the fast-paced world of M&A. A fortnight ago Macquarie Bank was the only solid bidder left at the table in the battle for the London Stock Exchange (LSE), but last week it pulled out. The Australian investment bank, represented by Baker & McKenzie partner Helen Bradley (pictured), conceded defeat. The LSE, represented by Freshfields Bruckhaus Deringer partner Graham Nicholson, was never keen on Macquarie, and the board strongly recommended rejecting the bank's offer. Deutsche Börse, represented by Ashurst corporate heavyweight Adrian Clark and competition partner Mat Hughes, and Euronext, advised by Slaughter and May partners Frances Murphy and Nilufer von Bismarck, as well as Cleary Gottlieb Steen & Hamilton partner John Brinitzer and competition partner Nick Levy, are still sorting through undertakings by the Competition Commission.
Freshfields and Shearman bow out of E.ON deal Bad news this week for German power provider E.ON's preferred international legal advisers Freshfield Bruckhaus Deringer and Shearman & Sterling, which found themselves ruled out of E.ON's e29.1bn (£19.82bn) bid for rival Spanish electricity company Endesa. Freshfields and Shearman were unable to act on the deal due to conflicts of interest. The magic circle firm is already advising Spain's Gas Natural, which made a e22.5bn (£15.32bn) hostile bid for Endesa last September, while Shearman represents Spanish energy producer Iberdrola, which is buying Endesa assets in a separate transaction. However, the firms' loss was Cravath Swaine & Moore's gain as it stepped in to plug the gap. German M&A giant Hengeler Mueller and longstanding Spanish adviser Perez Lorca are also representing E.ON on the bid, while Clifford Chance is representing Endesa.