A judge found that Kirkland & Ellis ignored ethical obligations to snag a role as deal counsel to Teva Pharmaceutical in its $40 billion hostile bid for Mylan. But Kirkland's loss is Sullivan & Cromwell's gain, as Teva announced that S&C will step in to advise the company in the takeover fight.
June 10, 2015 at 02:23 PM
1 minute read
The original version of this story was published on Law.Com
Kirkland & Ellis’ M&A conflicts crisis deepened on Tuesday, when a federal magistrate judge in Pittsburgh recommended that the firm be barred from advising Israel’s Teva Pharmaceutical Industries Ltd in its $40 billion hostile bid for Mylan NV.
But Kirkland’s loss is Sullivan & Cromwell’s gain, as Teva announced that S&C will step in to advise the company in the cross-border takeover fight.
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