Mining group Xstrata is set to launch a £4.1bn rights issue, leading to mandates for magic circle rivals Freshfields Bruckhaus Deringer and Linklaters.
Freshfields has emerged as the main corporate adviser to Xstrata, having worked on its hostile bid for Falconbridge in 2006.
Corporate partner Julian Makin worked on that deal and has also been instructed for the rights issue, alongside corporate partner Graham Watson. Linklaters is acting for the banks on the deal, which include JPMorgan Cazenove and Deutsche Bank. The Linklaters team is being headed by corporate partners Charlie Jacobs and John Lane.