Skadden bags £3.3bn Skandia deal

Nordic insurance company Skandia has instructed Skadden Arps Slate Meagher & Flom for the first time.

Skadden is advising its new client on the £3.3bn takeover bid by Old Mutual.

Skadden’s London-based partners Scott Simpson and Hunter Baker are advising on Old Mutual’s public offer for Skandia’s entire issued share capital, which was announced last week.

Linklaters is advising Old Mutual, a South African financial services group listed on the London stock exchange. The firm has previously represented Old Mutual several times. Fredrik Lindqvist, a corporate partner based in Stockholm, is leading the deal supported by corporate partners David Cheyne and Duncan Barber from London.