The billion-pound sale of both the Financial Times (FT) and The Economist kept the Pearson in-house legal team busy over the summer.
The Lawyer spoke to the group’s deputy general counsel for finance Graeme Baldwin about the transactions, which saw the FT sold to Japanese buyer Nikkei, while Pearson’s stake in the Economist was bought by Italian investment company Exor.
Baldwin described how both deals involved small in-house teams, who were supported by external firms Freshfields Bruckhaus Deringer, Herbert Smith Freehills and Morgan Lewis & Bockius.
However, he also added that the transactions brought with them numerous challenges, such as conflicting timezones and regulatory regimes, owing to their cross-border nature.
City partners from Macfarlanes and Linklaters advised Exor and the Economist respectively, while Skadden Arps Slate Meagher & Flom and Travers Smith both fielded London teams for Nikkei.
Also on TheLawyer.com
- Carey Olsen becomes the latest offshore firm to launch in Singapore Ashurst trials “blind allocation” of work to corporate associates in attempt to ensure fairness
- Behind the deal: how Swiss firms have bagged major business from GSK, Novartis and Crédit Suisse
| Featured briefings |
|---|
| No5 Chambers – Yes, you can discriminate against a company (but you shouldn’t) |
| Totum – Project planning: how to get the best talent |
| Shoosmiths – Electronic signatures: the legal pros and cons |
| Wragge Lawrence Graham & Co – The EU referendum: what campaigners should know |
| Gateley – Break cost clauses: breaking up is hard to do |
