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  • Asia PacificCompanies Act amended
  • On December 9 pharmaceutical groups Astra of Sweden and Zeneca of the UK announced that they are merging in a deal which will create Europe’s largest pharmaceutical group with a market capitalization of $70 billion. The deal is Europe’s largest ever merger.
  • The industrial conglomerate Tyco has announced that it is to acquire AMP in an all-stock deal. The offer has rescued the Harrisburg, Pennsylvania-based electrical equipment manufacturer from the hostile takeover attempt by AlliedSignal announced in the summer. Tyco’s offer tops AlliedSignal’s cash bid by $1.6 billion.
  • "We are in conversations with Brown & Wood, looking towards a merger," says James Hurlock, chair of the management committee of New York firm White & Case. Talks began in late October, and the firms hope to have an agreement, if the discussions progress satisfactorily, by the end of February. A merger would create the world's fifth largest law firm.
  • Thomas Bischof, general counsel of the finance department at Swisscom, Berne, talks to Stephen Mulrenan
  • The German government has been formulating plans for energy reform since early 1996 and a new energy bill has finally been completed. By Jan Byok of Wessing
  • Robert Sexton of Salans Hertzfeld & Heilbronn, Paris explains how debt-equity swaps could help foreign creditors seeking recovery of Russian loans given the precedent of the US junk bond crisis
  • Non-voting shares regime
  • UK firm Freshfields has appointed US arbitration lawyer Eric Schwartz, a former partner in the Paris office of Salans Hertzfeld & Heilbronn, as partner in its arbitration practice. Resident in the Paris office of Freshfields, Schwartz expects to take advantage of a greater depth of resources than he found at his old firm.
  • New York law firm Kelley Drye & Warren has made lateral hires to set up an International Trade and Investment Group and expand its Financial Institutions Group.