Magic circle firms help B&M IPO take off

Despite Pfizer’s recent bid for Astra Zeneca ultimately falling flat, the pharma frenzy continues. Medical device and equipment maker Medtronic has just announced plans to acquire Irish rival Covidien for a whopping $42.9bn with a little help from advisers Wachtell Lipton, Arthur Cox, Cleary Gottlieb and A&L Goodbody.

Natalie Stanton

Companies looking to the float have seen their fair share of ups and downs in recent weeks.

No doubt budget airline Wizz Air has been left with a sinking feeling, having today shelved its plans for an ambitious £200m flotation. The business follows in the large footsteps of clothing retailer Fatface, which also pulled its proposed IPO in May.

But despite these sporadic lulls, the IPO rush is continuing apace. One company to add weight to the bandwagon is Liverpool-based discount chain store B&M, which last week launched the biggest London listing of 2014 so far.

It was all hands to the pump from Clifford Chance, Freshfields, Allen & Overy and Debevoise to get the IPO off the ground – ultimately helping B&M secure a spot just shy of the FTSE 100.

Also on

Featured Briefings
Banking – Collyer Bristow: Why ‘coco’ bonds may not be as sweet for investors as once thought
Regulatory – Macfarlanes: Clearing derivatives under EMIR — CCP account structures
Corporate – DLA Piper: SAFE significantly eases restrictions on cross-border security and guarantees
Funds – Stephenson Harwood: Indonesia — new negative investment list
Insurance – Eversheds: Draft Insurance Contracts Bill update