Links and Slaughters lead on £1bn JPMorgan Cazenove deal

Stephen Blackshaw

Corporate partner Stephen Blackshaw is leading the Linklaters team advising JPMorgan on the deal. Slaughter and May is acting for Cazenove with a team led by corporate partner Simon Nicholls and including head of pensions and employment Jonathan Fenn and tax partner Gareth Miles.

JPMorgan Cazenove was established as a joint venture in 2004, with both entities owning 50 per cent of the investment banking operation. The terms of the tie-up gave JPMorgan the option to buy out its partner after five years.

Both Linklaters and Slaughters expect to continue to act for their longstanding clients after the JPMorgan Cazenove joint venture becomes fully owned by the US bank.

Subject to approval from Cazenove shareholders, the £1bn deal will see JPMorgan own 100 per cent of the bank. The offer price of 535p per share represents a premium of over 100 per cent on the quoted price of 245p earlier this year.

The deal is expected to close in early 2010.