Profile: Wachtell Lipton Rosen & Katz

Wachtell Lipton Rosen & Katz - Who's Who Legal '70'

What is the Who's Who Legal '70'?

In addition to its excellent corporate credentials, the firm’s reputation for “bet the company” litigation is as strong as ever, as highlighted on the following pages. Excellent restructuring, finance, corporate tax, real estate and antitrust practices ensure another first-rate showing in this year’s publication.

CORPORATE POWERHOUSE
The firm’s greatest concentration of talent is found once again in the merger and acquisition chapter with a total of nine nominees. Martin Lipton – the chapter’s most nominated individual – once again emerges with nothing but praise with sources labelling his work in the field as “amazing”. David Katz is another of the practice area’s high-flyers, garnering sufficient recommendations to take his place alongside Lipton as one of the leading names in the business. A “quite exceptional” lawyer, he is representing Newmont Mining Corp in its pending asset sale to Franco-Nevada Corporation. Andrew Brownstein once again puts in a strong performance. An “exceptional talent”, Brownstein is part of a team representing Walgreen Co in its pending acquisition of Option Care. Co-chair of the firm’s executive committee Daniel Neff enjoys an “excellent reputation” for M&A work. Among other matters he is representing Penn National Gaming in its pending acquisition by Centerbridge Partners LP and Fortress Investment Group LLC. Richard Katcher enjoys “legendary” status in the industry while respondents were full of praise for Edward Herlihy who was part of the team representing CheckFree Corporation in its $4.4 billion cash acquisition by Fiserv. Pamela Seymon also comes highly recommended and she represented Expedia in its $750 million self-tender offer. Patricia Vlahakis has had another good year in which she represented Bausch & Lomb in its $4.5 billion acquisition by Warburg Pincus. Adam Emmerich completes the firm’s showing in the chapter with a strong performance in our research. Recent highlights include working as part of the team advising Innkeepers USA Trust on its $1.5 billion leveraged buyout by Apollo Investment Corporation.
The reputation that the partners enjoy within the business community ensures that they are often called upon to provide boards and directors with guidance, advice and representation. A total of seven partners appear in the corporate governance chapter, six of whom (Lipton, Katz, Katcher, Emmerich, Brownstein and Vlahakis) have already been mentioned. “Class litigator” Theordore Mirvis also features prominently and he currently serves as a member of the advisory board of the Harvard Law School corporate governance programme.

The “incredible” Peter Canellos heads the tax department at the firm and received more nominations than any other lawyer in the United States. Praised as “a star”, “very user-friendly” and “great to work with” he was part of the team advising Ventas in its $1.9 billion acquisition of Sunrise Senior Living REIT. Jodi Schwartz is a “genuine talent” according to sources and advised Coram on its $350 million merger with Apria Healthcare Group.

Wachtell also boasts a renowned real estate practice and both Adam Emmerich and Robin Panovka feature in the corresponding chapter. Among other high-profile matters both recently represented Tishman Speyer, the global real estate owner, developer and investment company, and Lehman Brothers in their $22 billion acquisition of Archstone apartment REIT.

The firm is also well positioned to assist clients in their restructuring activities with lawyers principally representing banks, insurance companies, investment funds and securities and derivatives dealers as creditors in national and multinational cases. Both Scott Charles and Harold Novikoff appear in the insolvency and restructuring chapter with Novikoff receiving sufficient nominations to appear in our breakdown of the chapter’s most nominated individuals. Recent engagements for the group include representing the largest bondholder and chair of the official creditors committee, Capital Research & Management Company, in Delphi’s chapter 11 case.

Edward Herlihy is one of a number of partners listed in two chapters – M&A and banking. He boasts an excellent reputation for complex bank mergers and among other matters represented Donaldson, Lufkin & Jenrette in its acquisition by Credit Suisse Group. Craig Wasserman joins him in the banking chapter and among other highlights he represented Bank of America in its $21 billion acquisition of ABN AMRO North America Holding Company’s LaSalle unit.

COMPETITION
Wachtell’s antitrust practice has a strong merger-control flavour and a total of three partners make the chapter. Highlights for the group include advising Bank of America, JPMorgan Chase and JC Flowers & Co on their proposed $25 billion acquisition of Sallie Mae, the US student loan company. Ilene Knable Gotts once again emerges from our research as one of the practice area’s leaders with one high-profile source noting, “she’s got so much energy for her clients and the issues” while another remarked, she’s “the real deal, gets things done and knows her stuff”. Michael Byowitz also performed very well in our research and among other matters is advising Schering-Plough on its pending $14 billion acquisition of Organon BioSciences, a subsidiary of Akzo Nobel. David Neill is another strong practitioner and he completes the firm’s showing in the competition chapter.

DISPUTE RESOLUTION
Wachtell handles complex, high-profile litigation for leading corporations and financial institutions. The firm was involved in the World Trade Center Litigation, representing Silverstein Properties, the 99-year lessee of the WTC, in litigation against more than 20 insurance companies. Herbert Wachtell is regarded by sources as a “legend in his own lifetime” and Bernard Nussbaum, counsel to the US president during the Clinton administration, is said to be “very distinguished” and “second to none” for securities litigation. Lawrence Pedowitz is regarded as “tremendously smart and equally effective”, and his regulatory and white-collar expertise attracted praise. His expertise in this field sees him listed in the business crime chapter alongside John Savarese, forming what one source regards as a “dynamite” team.