A&O and Freshfields lead as LSE agrees merger with Canadian exchange

Allen & Overy (A&O) and Freshfields Bruckhaus Deringer took the UK side mandates on the merger of the London Stock Exchange (LSE) and the owner of its Toronto counterpart.

The Freshfields team acting for the LSE is led by corporate partners Philip Richards and Andrew Hutchings, with tax partner Jonathan Cooklin, competition partners Simon Priddis and Tom Ensign, and employment partner Jocelyn Mitchell also featuring.

The magic circle firm is a longstanding adviser to the LSE, although this is the first deal on which Richards has led since former relationship partner Graham Nicholson left to lead the Bank of England’s legal department (1 October 2008).

A&O is acting for TMX group – the owner of the Canadian exchange. Corporate partners Richard Browne and Richard Evans are leading the deal for the firm.

On Canadian law aspects of the tie-up, Olser Hoskin & Harcourt is advising the LSE while TMX has turned to fellow Canadian firm Torys. Toronto-based corporate partners Clay Horner and Jeremy Fraiberg led for Osler, while corporate partners Richard Balfour and Sharon Geraghty led for Torys.

Freshfields and Osler worked with an LSE in-house team including legal director Catherine Johnson and company secretary Lisa Condron.