Rupert Murdoch’s 21st Century Fox has made a better offer for Sky plc, which values the broadcaster at around £24.5 billion.
A London-based team from Ashurst is advising Deutsche Bank, lead financial adviser to Fox. The global law firm's team is led by corporate partner James Fletcher and finance partner Tim Rennie; and including corporate partner Robert Ogilvy Watson and consultant Adrian Clark are also advising on the transaction.
The deal is one piece of the puzzle that includes rival bids for part of the entertainment assets of Fox. Disney and Comcast are both in the running and would almost certainly acquire Sky as part of a successful bid.
Global co-operation agreement for Mayer Brown JSM
Mayer Brown JSM has entered into a new co-operation agreement with Jingtian & Gongcheng (J&G).
The two firms entered a formal association in 2015 but J&G has decided to establish its local law practice in Hong Kong and the association with Mayer Brown JSM will conclude on 31st August 2018.
The new co-operation agreement between the two firms means that, although they are not combining or merging, they will work more closely globally.
The agreement includes joint business development initiatives and collaboration on cross-border matters.
Freshfields loses highly regarded capital markets partner
Shearman & Sterling is celebrating the return of a capital markets high-flier who rejoins the firm from Freshfields.
Ward McKimm originally joined Shearman in New York in 1997 before moving to London two years later. His practice focuses on high yield bond offerings and other leveraged finance transactions, representing both underwriters and issuers internationally.
"We are delighted to welcome Ward back to the firm," said Senior Partner David Beveridge. "He has an excellent reputation in the market and will be a fantastic addition to our London office."