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Global round-up: Linklaters, Hostile takeovers plummet
Hostile bidders lying low as deal volume plummets; Linklaters offers relief to associates
The New Lawyer
Hostile bidders lying low as deal volume plummets
Hostile takeovers have dwindled, now making up just 4 per cent of the total volume of all announced deals worldwide, compared to 12 per cent last year, new data has revealed. Dealogic has released statistics showing the hostile takeover is now rare and expensive, with the average premium paid by these uninvited buyers now a whopping 43 per cent, greater than any full-year figure ever recorded by Dealogic, The New York Times reports. Linklaters offers relief to associates UK Magic Circle firm Linklaters is giving all staff a bonus of 1,500 pounds, and is now the only top-tier UK firm to be giving associates a pay rise, RollonFriday reports. The news is not so rosy for non fee-earners, though, who will be handed a pay freeze. The firm has confirmed that associates will now move up to the next salary band, though the pay awarded in each band has been reduced. The upshot is a small pay rise. A lawyer who qualified in September 2007, who would now be on 70,400 pounds, will move up to 73,000 pounds this autumn.
