The Am Law Daily The daily source for legal business news, analysis and intelligence from the editors and reporters at The American Lawyer. en-us Copyright 2014. ALM Media Properties, LLC. All rights reserved. The Am Law Daily Snell & Wilmer, Porter Wright to Swap Out Firm Leaders Snell & Wilmer announced on Tuesday that John Bouma, who served as chair for 30 years, will be replaced by corporate partner Matthew Feeney. Porter Wright Morris & Arthur will also see a leadership change, with its chief operating partner Robert Tannous to take over for Robert "Buzz" Trafford, who served managing partner for 18 years. Wed, 22 Oct 2014 17:17:28 EDT 1202674297153 A Sidley Partner's Quick Turnaround, Plus More Lateral Moves Six weeks after joining Fried Frank, former Sidley Austin securities and derivatives enforcement head David Katz returns to the firm; Kirkland & Ellis makes two more high-profile additions; Schulte Roth snags Patterson Belknap's trusts and estates chair; and other notable hires from throughout The Am Law 200. Tue, 21 Oct 2014 19:30:23 EDT 1202674182429 Kirkland Loses One PE Partner, Pays Top Dollar for Another In yet another high-profile lateral addition, Kirkland & Ellis poached Weil, Gotshal & Manges private equity partner Douglas Ryder in New York. The hire is the latest in a series of notable moves by Kirkland, which also recently raided Ropes & Gray in Hong Kong, but will lose the founding partner of its San Francisco office to a longtime private equity client. Tue, 21 Oct 2014 18:40:52 EDT 1202674179440 Wachtell, Cleary Gottlieb Grab Lead Roles as TPG Ups Stake in CAA The private equity firm is stepping up its investment in Creative Artists Agency to become the majority owner of the talent agency. TPG turned to Wachtell Lipton, Rosen & Katz for legal advice, while CAA tapped Cleary Gottlieb Steen & Hamilton. Tue, 21 Oct 2014 18:05:23 EDT 1202674176643 IBM Pays Globalfoundries $1.5B to Take Over Chip Business Cravath, Hogan Lovells and Weil advise as IBM agrees to pay Santa Clara, Calif.-based Globalfoundries, Inc. $1.5 billion in cash to take on its money-losing semiconductor business, including manufacturing plants and intellectual property. Tue, 21 Oct 2014 17:49:18 EDT 1202674174196 Report: Rents Up, Square Footage Down for Am Law 200 Firms The downsizing trend for office space continues but is starting to slow as many firms already have given up space per lawyer to save money, according to the latest survey by commercial real estate services company Jones Lang LaSalle. Mon, 20 Oct 2014 21:32:12 EDT 1202673845378 Six Am Law 100 Firms Smooth Way for Another Pipeline Deal As the U.S. moves to become the world's largest oil producer, lawyers from Cooley, Latham & Watkins, McGuireWoods, Norton Rose Fulbright, Simpson Thacher & Bartlett and Wachtell, Lipton, Rosen & Katz are helping QEP Resources unload its natural gas pipeline and processing unit for $2.5 billion in cash to Tesoro Logistics, a refinery operator owned by Tesoro Corp. Mon, 20 Oct 2014 18:34:30 EDT 1202674041294 Two Am Law 100 Firms With California Roots Expand Abroad Orrick, Herrington & Sutcliffe is opening up shop in West Africa, while Littler Mendelson's growing Latin American presence gets a boost with a new outpost in Peru. Mon, 20 Oct 2014 18:14:53 EDT 1202674037525 Skadden Continues M&A Hot Streak With Two Big Deals The firm, which earlier this month took the top spot on three separate rankings for its M&A work, is representing longtime client Permira Advisers on its $3.5 billion sale of Arysta LifeScience Ltd. to Platform Specialty Products. Skadden is also advising British Columbia Investment Management Corporation as it partners with Macquarie Infrastructure and Real Assets to purchase electric utility Cleco Power for $3.4 billion. Mon, 20 Oct 2014 17:45:51 EDT 1202674033005 Edwards Wildman's Tech Cochair Departs, Plus More Lateral Moves Another Edwards Wildman Palmer partner departs ahead of the firm's proposed merger later this year with Locke Lord; a Bingham partner heads to the FCC; Fried Frank and Kirkland & Ellis add a pair of new partners; and other notable moves from throughout The Am Law 200. Sat, 18 Oct 2014 12:07:34 EDT 1202673880305 Wachtell Advises Chesapeake on $5.38 Billion Asset Sale Chesapeake Energy announced Thursday that it would sell a large portion of its gas business in Northern West Virginia and Southern Pennsylvania to Houston-based rival Southwestern Energy. The deal allows Chesapeake to pay down a substantial amount of debt accrued from past expansion efforts. Fri, 17 Oct 2014 17:01:19 EDT 1202673840770 Elon's 'Groundbreaking New Model' In a battle between reforming legal education and preserving the currently prevailing law school business model, guess which side wins? Fri, 17 Oct 2014 15:42:20 EDT 1202673647750 Drone Practices Take Off at Hogan Lovells, MoFo Hogan Lovells and Morrison & Foerster are the latest Am Law firms to launch new practice groups focused on drones in the race to claim an early stake in the business. Thu, 16 Oct 2014 18:10:09 EDT 1202673689389 Covington Gets Qualcomm Call, Loses Two Litigators Wireless technology company Qualcomm tapped Covington & Burling to advise on its proposed $2.5 billion acquisition of CSR, a British chipmaker known for its Bluetooth technology. At the same time, the firm saw two top litigators handling Deepwater Horizon-related oil spill work for BP depart its Beltway base for Kirkland & Ellis. Thu, 16 Oct 2014 17:42:34 EDT 1202673683079 Fried Frank Picks Up Tax Duo in New York, London A month after losing its former leader and two other capital markets partners to Freshfields Bruckhaus Deringer, Wall Street mainstay Fried, Frank, Harris, Shriver & Jacobson is bringing on two tax partners from King & Spalding and Orrick, Herrington & Sutcliffe. Thu, 16 Oct 2014 17:39:38 EDT 1202673679428