Search results for

The first International Financial Law Review survey of the mergers and acquisitions market has identified the leading firms advising on deals worth US$1 billion or more. By Richard Forster

The recent fuss over different levels of disclosure in the US and UK by British Telecom is an example of the problems companies with multiple listings are open to. By Anthony J Herbert of Allen & Overy, London

Cancelled banking merger

The advertising group Cordiant announced in April that it will split into three companies later this year. The demerger will create Saatchi & Saatchi, a worldwide advertising network; Bates, a marketing communications network; and a media services group, Zenith. The group will hold an extraordinary general meeting of shareholders on the demerger in October.

Under new guidelines issued by the Central Bank of Cyprus, the requirements for the acquisition of shares and/or share options and/or rights issues of banking institutions listed on the Cyprus Stock Exchange are as follows:

The National Securities Commission (Comisión Nacional de Valores or CNV) has enacted its General Resolution No. 288, which aims to prevent money-laundering. The Resolution sets out general rules associated with the information to be provided by the following entities:

In contrast with Paul Hastings and Cadwalader, Washington's McKenna & Cuneo opened a small London office in March and has yet to announce its presence. The firm is trying to keep the office quiet. Office head Patrick Doyle says: "We have good relationships with many UK firms. We don't want to create the impression that coming to London would disrupt our relationships with London firms." Doyle says that he and his colleague Saleem Malik aim to "keep our heads down – we might announce something in a year or so". The firm will wait until US lawyers have come to London to reassure UK firms as to McKenna & Cuneo's intentions before making an announcement.

The flood of US firms entering or expanding in the London market shows no sign of stopping. Atlanta-based Paul, Hastings, Janofsky & Walker LLP opened an office in June. New York's Cadwalader, Wickersham & Taft will open its office at the start of September. Cadwalader is being particularly aggressive in its strategy. Mitchell Sonkin, a member of the firm's management committee, says the firm is aiming to open with 15 or more lawyers , and hopes to expand that to more than 25 within a year. All but a few of them will be UK-qualified, he predicts. The firm's eventual goal is to have an office of between 50 and 75 lawyers, and Sonkin expects that to be achieved within three to four years.

Law firms in the oil-rich country that rejected EU membership are poised to abandon their traditionally sedate culture and adopt a more aggressive approach. Samantha Wigham reports

Half of Denmark’s traditionally small, family-based firms are set to disappear, according to a recent report. Clare Hepburn looks at how lawyers there are meeting the challenges of liberalization