US FIRMS are advising on the merger between pharmaceutical giants Pfizer and Warner-Lambert.
Both companies have instructed New York-based lawyers on the £51.2bn merger – one of the five biggest – which will create the world's second largest pharmaceuticals group.
Pfizer has instructed Cadwalader Wickersham & Taft and Kaye Scholer Fierman Hays & Handler. Warner-Lambert is using Skadden Arps Slate Meagher & Flom and Wachtell Lipton Rosen & Katz.
Linklaters corporate finance partner Stephen Boughton, the lead partner for SmithKline Beecham in its £114bn merger with Glaxo Wellcome, says: “The whole deal is a US company bidding for another US company. “
Victoria Kitcatt, senior legal adviser at Pfizer in the UK, says: “It's not a UK issue so nothing's happening over here at the moment.
“There might be some incidental work in the future for London generated by the merger.”