A trio of City firms have seen a mega-mandate come to an end, after the collapse of the $66bn (£43bn) hostile takeover of Rio Tinto by BHP Billiton. BHP pulled out of its bid to take over its rival mining company today (25 November), citing risks to shareholder value in the wake of the economic crisis.Slaughter and May, Linklaters and Allen & Overy (A&O) had all taken headline roles on the multibillion-dollar bid, which was set to become the second-largest M&A deal of all time after Vodafone's 1999 $180bn (£120bn) takeover of German telecoms rival Mannesmann.
November 25, 2008 at 10:16 AM
1 minute read
The original version of this story was published on Legalweek
A trio of City firms have seen a mega-mandate come to an end, after the collapse of the $66bn (£43bn) hostile takeover of Rio Tinto by BHP Billiton.
BHP pulled out of its bid to take over its rival mining company today (25 November), citing risks to shareholder value in the wake of the economic crisis.
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