With professional advisers to the £3bn Safeway bidding war rumoured to be in line for a £100m fees windfall, Christmas has undoubtedly come extremely early for those top City law firms with a seat at the negotiating table.
Of course, the lion’s share of the cash will be accounted for by the success-related fees of the winning bidder’s and Safeway’s financial advisers.
But at least three magic circle firms are expected to be firing off bills well in excess of £1m whatever the outcome of the takeover battle.
