Slaughters earns respect on Pilkington buyout
Slaughter and May‘s boardroom connections may have won it the Pilkington instruction, but the firm has proven its worth after the £2.2bn takeover deal was sealed last week. Slaughters corporate partner Jeff Triggs (pictured) advised Pilkington in relation to the successful acquisition by Japanese company Nippon. Nippon’s first bid of £2bn was rejected in November last year. Allen & Overy advised longstanding client Nippon on corporate and financing issues, led by Don McGown and Simon Roberts. Herbert Smith initially advised Pilkington until the company’s chairman Sir Nigel Rudd, who has a well-established relationship with Slaughters, appointed Slaughters instead. The transaction will be financed mainly through borrowings of £1.5bn from UK banks and convertible bonds worth Y110bn (£541.1m) to Daiwa Securities and UBS. Clifford Chance advised UBS on UK debt, while Simmons & Simmons advised Daiwa on the Japanese bond.
FFW helps MCC stamp out Australian cricket bat
Field Fisher Waterhouse (FFW) has done little to endear itself to Australians, advising the Marylebone Cricket Club (MCC) on its successful campaign to have the bat used by Australian cricket captain Ricky Ponting and others outlawed. FFW’s IP litigation head Nick Rose and assistant Jim Dennis advised the MCC in its interpretation of Law 6 of the laws of cricket. The MCC informed governing body the International Cricket Council (ICC) of its decision last month and the bats were subsequently banned. The bats, made by Australian manufacturer Kookaburra, have a carbon graphite strip on their rear, which is used for strengthening. Kookaburra instructed Howes Percival litigation partner Geraint Davies. The case has caused waves in cricketing circles, with political tensions running high between the ICC and MCC.