Herbies, Links and Slaughters miss out as G4S abandons ISS deal

The abandonment of security giant G4S’s acquisition of ISS and a related £2bn rights issue has hit Herbert Smith, Linklaters, Norton Rose, Slaughter & May and Danish firm Bruun & Hjejle, all of which had roles on the deal.

Slaughter and May
Slaughter and May

Linklaters had been brought in to advise Deutsche Bank, Greenhill & Co and the Royal Bank of Scotland. Deutsche and Greenhill were appointed joint sponsors and advisers on the deal, while Deutsche and RBS corporate broking arm RBS Hoare Govett were the global co-ordinators.

Linklaters ECM partners John Lane and Jason Manketo were given the instruction.

Slaughters corporate partner Jeff Twentyman advised ISS on the deal alongside banking­partners Robert Byk and Matthew Tobin.

Herbert Smith advised G4S, fielding corporate partner Stephen Wilkinson. ECM partners Chris Haynes and US securities partner Steve Thierbach advised on the rights issue used to fund the abandoned deal. Banking partner Will Nevin advised on the financing.

Danish firm Bruun & Hjejle acted for G4S out of Copenhagen, fielding corporate partner Henning Aasmul-Olsen.

Brussels partner Mark Tricker at Norton Rose advised G4S on competition law together with London partner Martin Coleman.

G4S announced this morning that it was abandoning the deal following opposition from shareholders.