Manufacturing and engineering giant Tyco has signed an agreement to make Eversheds its exclusive legal provider – a deal that will gift the firm £8m over two years.

The US-based company has cut its former roster of 240 firms down to just one and will now use Eversheds for legal advice across Europe, the Middle East and Africa (EMEA). Tyco will, however, be able to use other advisers for specific pieces of work.