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.
Most of the private equity house's recent publishing acquisitions have gone to Ashurst Morris Crisp, but for the Kluwer Academic Publishers auction, the work went to Freshfields corporate partner James Davis.
However, Candover, which was represented by Clifford Chance, was named preferred bidder after the auction and at this stage Cinven decided to throw in its lot with the victor.
From this point, the Clifford Chance team led on the M&A transaction, but used shared background such as due diligence prepared by Freshfields for the Cinven bid.
Recent Cinven acquisitions in the publishing sector have gone to Ashurst Morris Crisp, which traditionally shares the client relationship with Freshfields.
Ashursts acted on the IPC acquisition and the £1.2bn Vivendi Universal Publishing acquisition in May, which Paris partner Thomas Forschbach worked on.
Both Ashursts and Freshfields have problems with conflicts in the publishing sector.
Freshfields historically acts for Reed Elsevier and Ashursts acted for Taylor & Francis, a UK academic publishing corporate on the Kluwer auction.
Candover, which has been less active in publishing than Cinven, was one of four bidders in the Kluwer auction, the fourth being US publishing company John Wiley. Candover was represented by Clifford Chance partner Adam Signy, with Herbert Smith best friend Stibbe acting for the vendor Wolters Kluwer.
The consortium faced a tough fight from the academic publishers and the deal was finalised in nine days.
One party close to the deal said: "The opposition was promising the earth, but we had the cash and had to move quickly to complete."