Bakers scoops prize Macquarie role on LSE bid

Baker & McKenzie has scooped the lead role advising the Macquarie Bank on its expected bid for the London Stock Exchange (LSE).

The firm is understood to have secured the role, with the majority of city firms unable to act for the Australian lender due to conflicting roles in relation to the LSE.

Baker & McKenzie have declined to confirm or deny the instruction, but sources close to the deal told The Lawyer the firm has been appointed by Macquarie on the deal.

The news came after the Takeover Panel issued a “put-up-or-shut-up” order to the Macquarie Bank.

Under the ruling, Macquarie has until 5pm on 15 December to formally announce whether it intends to bid for LSE or not.

Meanwhile, Linklaters has also been appointed by Macquarie to advise the financial backers Goldman Sachs on the bid. Freshfields Bruckhaus Deringer is advising the LSE.

Aside from Macquarie, Euronext and Deutsche Borse may also bid for the LSE.