Simmons promotes 'virtual bid'

Simmons & Simmons has launched a training programme for investment banks to rally support for its new ‘virtual bid’ deal structure as the City firm moves to corner the market for the ground-breaking finance technique.

Over recent weeks the firm has visited banks including Lazard, Cazenove, Merrill Lynch, UBS Warburg and ABN Amro to explain how the technique works.

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