by Madmax » Mon Oct 11, 2010 6:29 pm
Macfarlanes has become the latest law firm to take a role on the protracted Liverpool Football Club takeover saga, representing a Singapore billionaire who has lodged a bid for the Premier League club.
The City law firm is advising Peter Lim, who is reportedly set to make an increased offer for the club after last week losing out to US sports group New England Sport Ventures (NESV), whose £300m bid was accepted by the club's board.
Clifford Chance's former Singapore joint venture firm Wong Partnership is also reportedly advising Lim, who was this year named in Forbes magazine's list of Singapore's richest, with an estimated wealth of $1.6bn (£1bn).
An improved offer from Lim could potentially impact on the court dispute over the NESV bid, which is set to be heard tomorrow (12 October) in the Chancery Division of the High Court by Mr Justice Floyd.
The NESV deal has been challenged by the US owners Tom Hicks and George Gillett, who believe the bid undervalues the club.
Macfarlanes, which this year posted profits per equity partner of £710,000, is the latest in a raft of legal advisers to win advisory roles relating to the ongoing takeover.
One Essex Court's Lord Grabiner QC and Jamie Goldsmith are representing Liverpool FC's board alongside magic circle firm Slaughter and May, while City firm Peters & Peters, Paul Girolami QC of Maitland Chambers and junior counsel from Brick Court Chambers are acting for Hicks and Gillett.
US firms Weil Gotshal & Manges and Shearman & Sterling have also secured roles advising on transactional aspects of the takeover.