Freshfields acts for Pru in u1.9bn bid for M&G

Freshfields has again reinforced its new-found dominance in top-end mergers and acquisitions by acting for Prudential in its u1.9bn bid for independent City fund manager M&G.

This is the Pru's second assault on fund managers: two years ago Lovell White Durrant advised in its swoop on Scottish Amicable – which was at that time advised by Freshfields.

Commenting on the M&G bid, a source at Lovells – the main lawyers for the Prudential – says: “It's about time Freshfields had a go.”

The Freshfields team is led by partner Philip Richards and senior partner Anthony Salz. They were supported by Matthew Cosans, Mark Kalderon and Nick Spearing.

Linklaters partners Andrew Peck and John Goodwin are advising M&G.

Freshfields' strategy to enter the major league of international M&A players appears to have paid off in a number of recent deals.

Last year, the firm advised Scottish Power in its u4.2bn takeover of Pacificorps, and Amoco in its u67.5bn merger with BP.

Freshfields also acted for Zeneca in the u42.4bn takeover of Swedish pharmaceutical company Astra.