Whenever a U.S. firm is tapped as lead counsel to act on a bid for a major British company, the market takes note. Skadden, Arps, Slate, Meagher & Flom’s role representing Qatari investment fund Delta 2 on its �12 billion ($24 billion) offer for British supermarket chain J Sainsbury Plc has been London’s most high-profile M&A assignment of recent weeks.

U.K. corporate partner Adrian Knight is leading the Skadden team, while Linklaters is advising long-standing client Sainsbury through relationship partners Mark Stamp and David Barnes. Shearman & Sterling’s Peter King is acting for Delta 2′s financial advisers, Credit Suisse. Skadden declined to comment on its involvement, but a source close to the deal confirmed the New York firm’s role.

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