Firms vie for places as GE prepares for European panel revamp

General Electric’s (GE) external legal advisers are on standby as the US conglomerate finalises a process to review its European panels.

GE General Electric
GE General Electric

Firms have submitted applications for a place on the rosters after GE sent out requests for tenders in the past few weeks. The expected completion date is unclear.

The panels include the European M&A panel, on which Allen & Overy, Ashurst, Slaughter and May and Weil Gotshal & Manges are understood to be among the current members. It also encompasses separate rosters for areas including finance and real estate finance.

GE first launched the European M&A panel in 2007 (8 October 2007). Freshfields later chose to leave it for conflict reasons.

The rosters cover a broad range of work across all of GE’s business areas, including its financial services arm, GE Capital, which has been slimmed down in recent years and now makes up roughly a third of the overall business in revenue terms. It operates separate panels outside the European focus, including a global M&A panel.

GE declined to comment.