Bredin Prat, Cleary Gottlieb Steen & Hamilton and Stibbe have joined forces to represent Euronext which has been at the centre of a multi-billion bidding war by the New York Stock Exchange (NYSE) and Deutsche Borse.
Euronext has come under intense pressure this week after the NYSE tabled a US$20bn (£10.63bn) bid to create the world’s first transatlantic exchange. The bid came hot on the heels of an offer by Germany’s Deutsche Borse.
Benelux firm Stibbe has been appointed by Euronext as global coordinating counsel, with corporate partner Jaap Willeumier leading the team alongside colleagues Joost van Lanschot, Fons Leijten and tax partner Stef van Weeghel.
Cleary is advising on US aspects of the negotiations, with New York corporate partner Victor Lewkow leading the team alongside Paris corporate partner John Brinitzer. Other Cleary lawyers involved include US qualified London M&A partner William Groll, London competition partner Shaun Goodman and Brussels-based Nick Levy.
Manhattan firm Watchtell Lipton Rosen & Katz is advising regular client NYSE on its merger bid. O’Melveny & Myers is representing NYSE’s board of directors, while French boutique Darrois Villey Maillot Brochier and Benelux firm Loyens & Loeff are also advising NYSE.
Deutsche Borse, which is also understood to have proposed a merger with Euronext, is being advised by Ashurst corporate head Adrian Clark. Ashurst has managed to keep hold of its longstanding client, after losing former corporate chief and relationship partner Chris Ashworth to O’Melveny & Myers at the end of last year.