Freshfields Bruckhaus Deringer has landed its latest multibillion-pound M&A deal with a lead role advising Japan Tobacco on its £7bn bid for rival tobacco giant Gallaher.

The cash offer by Japan Tobacco was accepted today (15 December) and values Gallaher at $19bn (£9.7bn) including debt. It is thought the deal would represent the largest foreign acquisition by a Japanese company to date.