The group of City law firms involved in the ongoing takeover battle between Marks & Spencer (M&S) and Philip Green has gained another member, after Herbert Smith acted for fashion guru George Davies on the £125m sale of Per Una to the retail company.
The sale, which formed part of M&S’ new chief executive Stuart Rose’s eagerly awaited review of the business on Monday (12 July), was led by Herbert Smith partner Richard Lewis.
M&S was advised by Slaughter and May, with partner Richard de Carle leading the charge.
Earlier this week Norton Rose represented HSBC on its purchase of M&S’ Financial Services group.
It is understood that Herbert Smith has past links to the Per Una women’s wear company after acting in connection to contractual arrangements between Davies and M&S.
It was this contract and its subsequent restructure that played a large part in Freshfields Bruckhaus Deringer being injuncted from acting for Green on the ongoing bid. Ashurst was brought into to replace the magic circle firm after the injunction was upheld at the High Court.