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.
Manhattan-based firms Sullivan & Cromwell and Skadden Arps Slate Meagher & Flom advised on the $16bn (£9.2bn) mega-merger of Merrill Lynch’s asset management business and BlackRock, the fixed income manager.
The new company, which will operate under the BlackRock name, will control $1Tr in assets (£575bn), and have a presence in Europe, the US and Asia.
Sullivan advised Merrill Lynch, led by corporate partners Mitchell Eitel and John O'Brien.
Skadden represented BlackRock, led by partner Richard Prins.
Founded in 1988 by chairman and chief executive Lawrence Fink, BlackRock is one of the largest asset managers in the US, generating earnings of $234m (£134.1m) last year.
Fink will remain at the top of the combined business; and Merrill will take a 49.8 per cent stake in the merged operation.
The agreement comes just weeks after Morgan Stanley abandoned merger talks with BlackRock.