X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

The recent sale of Whitbread’s beer company business to Interbrew for £400m seems to have hammered the final nail in Clifford Chance’s coffin as preferred corporate adviser to the pub giant, which instructed Slaughter and May on the deal instead. The breakdown in the relationship began last July after Clifford Chance was associated with Whitbread’s decision to publicise details about an informal interview with the Office of Fair Trading (OFT), saying the regulator would clear its proposed offer for Allied Domecq’s pubs business. A riled OFT retorted with its own statement saying that Whitbread’s bid had yet to be cleared by the OFT. Clifford Chance’s corporate partner Neil Harvey led the legal team, which included competition expert James Wheaton. Whitbread absolved Clifford Chance of any blame, but the company has not instructed the firm on any major corporate deals since. Some City lawyers believe Clifford Chance has become a scapegoat for Whitbread’s ultimate failure to secure Allied Domecq. Last December, Whitbread instructed Allen & Overy (A&O) ahead of Clifford Chance on its £587m acquisition of Swallow Group. The deal was A&O’s first Whitbread instruction, although Legal Week understands that the work would have gone to Slaughter and May, but for the fact that it was already advising Swallow.However, Slaughter and May has clearly emerged as Whitbread’s new main corporate adviser.

This premium content is reserved for
Legal Week Subscribers.
Subscribe today and get 10% off.

A PREMIUM SUBSCRIPTION PROVIDES:

  • Trusted insight, news and analysis from the UK and across the globe
  • Connections to senior business lawyers within the leading law firms and legal departments
  • Unique access to ALM's unrivalled, market-leading reporting in the US and Asia and cutting-edge research, including Legal Week's UK Top 50 and Global 100 rankings
  • The Legal Week Daily News Alert, Editor's Highlights, and Breaking News digital newsletters and more, plus a choice of over 70 ALM newsletters
  • Optimized access on all of your devices: desktop, tablet and mobile
  • Complete access to the site's full archive of more than 56,000 articles

Already have an account?

For enterprise-wide or corporate enquiries, please contact Paul Reeves on Preeves@alm.com or call on +44 (0) 203 875 0651

 

Legal Week Newsletters & Alerts

Sign Up Today and Never Miss Another Story.

As part of your subscription, you can sign up for an unlimited number of a wide range of complimentary newsletters and alerts. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2018 ALM Media Properties, LLC. All Rights Reserved.