The latest stage in the ongoing Parmalat saga has gifted EY Law Italy and Willkie Farr & Gallagher with major mandates. It is understood that EY Law is advising Italian dairy group Granarolo, which is considering whether to launch a bid for Parmalat. According to reports, Granarolo, an unlisted company which is smaller than Parmalat, is waiting until the end of the month to decide whether to launch a formal bid. Meanwhile, Willkie Farr is believed to be acting for French dairy group Lactalis, which is also considering a bid for Parmalat. Parmalat’s shares resumed trading earlier this month following a 22-month suspension. The company’s shares dramatically collapsed at the end of 2003, resulting in Enrico Bondi, a corporate turnaround specialist, being appointed as the company’s administrator. Gianni Origoni Grippo & Partners, which has been advising Parmalat throughout its insolvency, is advising the company on its potential takeover. As reported in The Lawyer (11 April), the Italian firm is already the chief beneficiary of the fees bonanza arising out of the high-profile insolvency.