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26 July 1999
12 July 2010
19 June 2000
French oil rivals Elf Aquitaine and TotalFina.Jones Day Reavis & Pogue has martialled18 lawyers from its Paris, NewYork, London and Washington offices to represent TotalFinain a hostiletakeover euro42bn (approx u28bn) bid for Elf made on 5 July.Now Elf hasenlisted Sullivan & Cromwell and Cleary Gottlieb Steen &Hamilton to muster a combinedteam of more than 22 lawyers to represent thecompany, which returned TotalFina's bid twoweeks ago with a u32mcounteroffer.Both companies are rejecting the other's offer. ButTotalFina has a headstart as its bid has been cleared by French regulator CommisiondesOperations de Bourse.Jones Day's team is led by Laurent Faugerolas, a partner in theParisoffice, and partner Jere Thomson at the firm's New York office.The team includesPeter Faber, corporate partner in London, tax partnerPierre Ulmann in Paris while M&Apartner Steven Guynn and tax partnerRichard Andersen are working from New York.AndrewBernstein, a partner at Cleary Gottlieb's New York office is givingUS law advice whilein Belgium partner Jacques Reading is advising onEuropean competition issues.AndrewCurran, corporate partner at Cleary Gottlieb, is working on thedeal in the UK. RichardAsphalter, head of Sullivan & Cromwell's Frenchoffice, is working with a team of 16including David Kies, M&A partner inNew York.TotalFina is a Franco/Belgian company witha listing in the UK and Elf isbased in France, but both have US shareholders.Both oilcompanies have secured millions of pounds in financial aid frominvestors including, onTotalFina's side, Merrill Lynch and Credit SuisseFirst Boston, which are represented bySkadden Arps Slate Meagher & Flom.Alexander Covello, an associate at Skadden Arps'French office, says it isimperative that US firms work on the bid to help deal withstatesideregulator the Securities and Exchange Commission (SCC). He says: "Animportantpart of the deal is filing with the SCC a Form F4," he says."Lawyers need to know peoplewithin the SCC and how to file documents,especially a huge proposal document like theForm F4."
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