Allen & Overy (A&O) and Linklaters & Alliance are set to fight it out for the position of primary UK corporate adviser to German multi-utility RWE following its acquisition of the UK’s largest electricity supplier, Innogy.

Innogy agreed to a £3.1bn cash offer from RWE last month in a deal that will see the German company taking on an additional £2.1bn of debt and £300m in contract liabilities.