The Lawyer’s new China Elite report contains the most detailed research available on the PRC legal market and contains unparalleled insight into the country's leading law firms. They vary in size, practice focus and geographic coverage, but they all share one common quality – ambition... 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.
Shearman & Sterling's New York office has advised long-standing client Merrill Lynch on its $50bn (£28bn) sale to Bank of America over the weekend.
Bank of America was advised by a team from Slaughter & May’s US best friend, Wachtell Lipton Rosen & Katz, that included corporate partners Nicholas Demmo, Edward Herlihy, Richard Kim, Lawrence Makow, Steven Rosenblum, Craig Wasserman and Richard Kim.
Shearman's team was led by New York M&A partners John Madden, John Marzulli and Scott Petepiece.
Shearman London corporate partner Lois Moore (pictured) explained: "Merrill is a long-standing relationship of Shearman’s."
It is not yet known which way the future legal work of the merged giant bank will go.
The combined Bank of America and Merrill Lynch will be the largest financial services institution in the world.
Bank of America was reported to have been bidding for Lehman Brothers over the weekend, but is to have opted for Merrill Lynch instead yesterday.
As a result of the failed bail-out, Lehman Brothers has filed for creditor protection in the US and gone into administration in the UK today (as reported on TheLawyer.com15 September). Lehman's UK and US administrators PricewaterhouseCoopers (PwC) are being advised by Linklaters and Weil Gotshal & Manges respectively.
Last week Wachtell also led the deal on the US Government's takeover of beleaguered US mortgage giants Freddie Mac and Fannie Mae (as reported on TheLawyer.com9 September).