Skadden Arps Slate Meagher & Flom has landed the top role advising Nomura on its $230 million acquisition of Lehman Brothers' Asian businesses.
The
Barclays had been competing with Nomura in a bidding war to acquire Lehman's Asian functions following the bank's shock collapse.
Nomura panel firm Osborne Clarke is advising on all employment aspects of the Japanese bank's bid for Lehman's European assets, with the firm fielding a team under employment partner Victoria Parry. Nomura relationship partner and employment Chief David Cubitt and employment partner Richard Brown are assisting. Skadden is also thought to be advising Nomura on the bid.
Linklaters is advising liquidators KPMG from the firm's Hong Kong office, with Asia corporate chief Keith Johnson taking the lead role.
Barclays last week announced that it is to assume Lehman's American businesses for $1.75 billion, taking on the fixed income, research departments, equities sales, and investment banking and trading operations in
Clifford Chance won the lead role on that deal after the firm advised Barclays on its deserted bid to acquire the whole of Lehman Brothers.
The Magic Circle giant fielded a team under corporate partner Guy Norman, with corporate partner Patrick Sarch, regulatory partner Chris Bates, restructuring partner Nick Frome and capital markets partner Ed Bradley assisting.
U.K. rival Herbert Smith is thought to have a close relationship with Nomura but refused to comment on any further involvement in the bank's actions.
For more news, commentary and analysis on the U.K. legal market, visit LegalWeek.com
