Barclay brothers choose Skadden Arps for Hollinger bid

The Barclay brothers have called on Skadden Arps Slate Meagher & Flom to act on this weekend’s surprise £259m offer for Lord Black of Crossharbour’s controlling stake in Hollinger International.

Led out of New York by Skadden corporate partner Morris Kramer, the shock bid will give Press Holdings, the vehicle owned by Sir David and Sir Frederick Barclay, 30 per cent worth of equity and 73 per cent voting rights in Hollinger International.

Long-time UK advisor to the Barclay brothers Lovells was also involved including providing regulatory advice on the offer. It is understood that competition partner Susan Bright is acting on the transaction. Sullivan & Cromwell represented the target.