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Wachtell and Shearman Advised on Bank of America Deal

Posted Sep 15, 2008 6:44 AM CDT
By Debra Cassens Weiss

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Updated: Once again, Wachtell, Lipton, Rosen & Katz is playing a prominent role in the takeover of a failed institution.

Wachtell represented Bank of America in marathon negotiations at the law firm this weekend that produced the deal to buy Merrill Lynch & Co. for $50 billion, the Wall Street Journal reports (sub. req.). Wachtell, which has long represented Bank of American in its deals, also advised the Treasury Department in its takeover of Fannie Mae and Freddie Mac, and drafted the agreement governing the transaction.

Twenty-three Wachtell lawyers, including 12 partners, advised Bank of America on the purchase, Legal Week reports. One of them was Edward Herlihy, co-chair of the firm’s executive committee.

The legal team had representatives from the firm’s corporate, antitrust, executive compensation and benefits, restructuring and finance, and tax departments, according to Legal Week.

Representing Merrill were Shearman & Sterling lawyers John Madden, John Marzulli and Scott Pettepiece, the Wall Street Journal Law Blog reports. Madden was former co-managing partner of the firm and the former chair of its mergers and acquisitions group. Representing Merrill's independent directors were Cravath lawyers Robert Joffe, Susan Webster and Sarkis Jebejian, the blog says.

Updated at 8:45 a.m. to include information from the Wall Street Journal Law Blog.

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