Legal advisers poised following BAA takeover
The £10.3bn takeover of BAA by Spanish construction giant Grupo Ferrovial has been agreed, in what looks set to spark a fierce battle between advisers Herbert Smith and Freshfields Bruckhaus Deringer for future work. The deal, agreed this week (5 June), saw Herbert Smith corporate partner Gareth Roberts advising long-term client BAA, while Freshfields advised Ferrovial, with corporate partners Will Lawes and Laurie McFadden leading the team. BAA had rejected earlier approaches from the consortium.
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