Shearman, Wachtell acting on Merrill Lynch takeover

Shearman & Sterling’s New York office advised longstanding client Merrill Lynch on its $50bn (£28.06bn) sale to Bank of America (BofA) over the weekend.


Shearman & Sterling’s New York office advised longstanding client Merrill Lynch ;on ;its ;$50bn (£28.06bn) sale to Bank of America (BofA) over the weekend.

BofA was advised by Wachtell Lipton Rosen & Katz – a team that included corporate ;partners Nicholas Demmo, Edward Herlihy, Richard Kim, Lawrence Makow, Steven Rosenblum and Craig Wasserman.

Shearman’s team was led by New York M&A partners John ;Madden, ;John Marzulli ;and ;Scott Petepiece. It is not yet known which way the future legal work of the merged banking giant will go.

The combined BofA and Merrill Lynch will be the largest financial services institution in the world. Only last week Wachtell had led the deal on the US government’s multibillion-dollar takeover of US ­mortgage giants Freddie Mac and Fannie Mae (as reported on TheLawyer. com, 9 September).