AmLaw Daily just noted that Debevoise is representing Verizon on two more deals, the $5.25 billion sale of rural phone lines to Frontier, and $2.35 billion sale of other rural assets to AT&T. Two deals, $7.6 billion, that’s pretty good. But it got us thinking about better clients.
After the jump, we thought of one lawyer who has done a quarter trillion dollars worth of deals with one client.
Cadwalader‘s Dennis Block and client Pfizer have been on amazing run over the past 10 years, including the recently announced Wyeth deal.
According to his bio, Block (SUNY Buffalo BA ’64, Brooklyn LLB ’67) has represented Pfizer on:
- Pfizer Inc.’s acquisition of Wyeth [pending - $68 billion]
- Pfizer Inc.’s sale of its Consumer Business to Johnson & Johnson [2007 - $16.6 billion]
- Pfizer Inc.’s acquisition of Vicuron [2005 - $1.9 billion]
- Pfizer Inc.’s acquisition of Pharmacia Corporation [2003 - $60 billion]
- Pfizer Inc.’s acquisition of Warner-Lambert [2000 - $90 billion]
An acquisitive client with a tendency to overpay and change strategy every once in a while? An M&A lawyer’s dream. By the way, that run started shortly after Block left Weil Gotshal in late 1998. How much more of Block’s (alleged) crap would Weil have put up with for the marginal increase in his book?
Anyway, we were trying to think of a lawyer who has had a better run with a client.
Scott Barshay of Cravath came to mind. As of 2005, he had done 25 deals for the technology company – but Sun would have been IBM’s biggest deal, and that was “only” $8 billion, and they didn’t even do the deal. We couldn’t think of anything bigger for IBM than the $5 billion acquisition of Cognos a few years ago. So even if all 25 deals were that big, that’s less than half the deal value Block and Wyeth have done.
Larry Sonsini and his firm have done a ton of deals for Hewlett-Packard, but we’re not going to consider them for any “best client” accolades, considering they (perhaps not unjustifiably) fired the firm a few years ago.
Did we miss anyone?