Milbank Tweed Hadley & McCloy corporate star Tim Emmerson has scooped the lead role advising three former Misys directors on their £1bn attempted takeover of the company.
Emmerson won the work through Bridgewell, the boutique financial adviser to the Misys ex-directors. He was recommended to the clients by Bridgewell's management, which includes Jim Rennick, the former head of equity capital markets at UBS.
Emmerson advised Rennick on the privatisation of Railtrack and the IPO of Thomson Travel. Coincidentally, Allen & Overy partner David Wootton, who is understood to be advising Misys, also worked on the Thomson deal, advising the company.
Ross Graham, Mike O'Leary and John Sussens are the former Misys directors hoping to take control of the software and healthcare company to revive its flagging performance.
The three took Misys through its growth in the 1980s and 1990s. They still own shares in the company, valued at around £5m.
The former directors want to split Misys into its component business areas - healthcare, IT and banking - with a view to selling them on within a few years.
Their proposal has captured the imagination of the City because they will only draw a basic salary upon winning control of Misys. Equity and bonuses will only be theirs if they manage to turn around sliding profit.
But Graham, O'Leary and Sussens will be up against chief executive Kevin Lomax, who is leading a management buyout bid with other members of the board.
Private equity firms Permira and General Atlantic Partners are also in the running for control of the company.