Linklaters and Herbert Smith are squaring up in the battle for UK-listed waste disposal company Biffa.
Private equity houses Montagu and HgCapital – both Linklaters clients – have teamed up for the first time to make an unsolicited approach to Herbert Smith client Biffa.
So far it has rejected two approaches by the consortium, the most recent thought to be at 325p a share.
The consortium bought a 2.4 per cent stake in Biffa after its first approach was rebuffed.
Corporate partner Richard Youle manages both private equity relationships for Linklaters and is leading on this deal.
Herbert Smith advised Biffa on its listing when it demerged from Severn Trent last year.
Corporate partner Steven Wilkinson manages the relationship.