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.
In total, 18 takeover offers for publicly listed companies were made between January and the end of June 2013, with fees on individual deals ranging from £21,000 to £6.85m. Those results are particularly bleak when compared to the end of 2012 – between September and the end of December £50.1m was spent on lawyers for 15 deals alone.
In terms of legal fees, the largest deal of 2013 so far was William Hill and GVC Holding’s takeover of Sportingbet for £485m. For their advice to Sportingbet, firms including Nabarro and Stephenson Harwood pocketed roughly £1.35m in total, while those on the buyers’ side such as Addleshaw Goddard and Ashurst earned £5.5m.
On the same deal, Sportingbet paid about £5.964m in financial advisory and brokers fees, while the buyers dished out over £9.15m to financial institutions including Citi and Investec.
As far as fees go, it seems that lawyers are facing an uphill struggle to bridge the gap with their financial counterparts.