Magic circle duo lead on £1.4bn Hong Kong purchase of London Metal Exchange
Allen & Overy (A&O) and Freshfields Bruckhaus Deringer have taken the lead roles on the Hong Kong Stock Exchange's £1.4bn takeover of the London Metal Exchange (LME). The A&O team is led by London corporate partner Alistair Asher, the head of the firm's financial services group, and counsel Ben Koehne, with City partner Damian Carolan handling regulatory advice.
June 15, 2012 at 09:31 AM
2 minute read
Allen & Overy (A&O) and Freshfields Bruckhaus Deringer have taken the lead roles on the Hong Kong Stock Exchange's £1.4bn takeover of the London Metal Exchange (LME).
The A&O team is led by London corporate partner Alistair Asher, the head of the firm's financial services group, and counsel Ben Koehne, with City partner Damian Carolan handling regulatory advice.
The magic circle firm also fielded a team of Hong Kong lawyers including corporate partners Bernardine Lam and Gary McLean, regulatory partner Alan Ewins and banking partner Ian Powell.
Meanwhile, Freshfields and Jones Day are acting as legal advisers to LME Holdings, the parent company of the LME, which is owned by its shareholders.
Freshfields handled the M&A advice, with a team led by Sundeep Kapila, global head of the firm's market infrastructure practice, working alongside Tom Hine, general counsel and head of enforcement at the LME.
The firm's team also included global financial services head Michael Raffan, employment, pensions and benefits partner Simon Evans, tax partner Colin Hargreaves and finance partner Ian Frost.
Jones Day partner Frances Murphy advised on competition law.
LME is the world's largest exchange trading nonferrous metals. It offers futures and options contracts for metals including aluminium, copper, tin, nickel, zinc, lead, aluminium and alloy.
In a statement, Hong Kong Stock Exchange chief executive Charles Li said: "The acquisition of LME Holdings represents a unique opportunity for us to acquire in one stroke a position of global leadership in the commodities market. [The deal] brings a unique ability to help the LME grow its business in Asia and, particularly, China."
The takeover is pending shareholder approval, but the LME Holdings board has unanimously recommended that LME shareholders should vote in favour of the deal at a meeting which will be held before the end of July.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View AllCanadian Media Giants Sue OpenAI Over Alleged Copyright Violations in ChatGPT Training
3 minute readFormer Head of Finance at DLA Piper and Freshfields Quietly 'Struck Off'
2 minute readAshurst Bolsters Singapore Offering With A&O Shearman Hire
Trending Stories
- 1NY Court Leaders Ask for 10% Judiciary Budget Increase
- 2ClaimClam Wanted to Boost Class Action Claims Rates. But Judges and Attorneys Fought Back
- 3'We Will Sue ... Immediately': AG Bonta Says He's Ready to Spend $25M Battling Trump
- 411 Red State AGs Demand Damages in Antitrust Lawsuit Shaming ESG Climate Investors
- 5In-House Moves of Month: Discover Fills Awkward CLO Opening, Allegion GC Lasts Just 3 Months
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250