Skadden Arps Slate Meagher & Flom has landed Swedish insurance giant Skandia as a client with the US firm’s City arm acting on a £3.3bn takeover bid from South African financial services group Old Mutual.

The transaction is the first deal the New York-based giant has done for Skandia, with the firm fielding a team under London corporate partners Scott Simpson, Hunter Baker and UK corporate head Michael Hatchard.