FTSE100 betting group Paddy Power Betfair (PPB), has confirmed the appointment of London law firm Freshfields Bruckhaus Deringer as its lead legal advisor in its pursuit of US-facing DFS operator FanDuel.
This week PPB governance confirmed industry rumours that the company was seeking to acquire New York-based DFS operator FanDuel, following the Supreme Court’s repeal of PASPA’s federal mandate.
The betting group confirmed, to UK media that it had accelerated talks between parties following SCOTUS ruling, which will likely lead to the US opening state-sanctioned sports betting.
As yet, PPB governance has no made its formal proposal for the outright acquisition of FanDuel and its associated assets.
Corporate law news source, LegalWeek reports that Freshfields’ Senior Partner Oliver Lazenby will lead the FTSE betting group legal advisory on the proposed acquisition.
Furthermore, PPB and Freshfields will be further assisted by Philadelphia-based law firm Blank Rome as US legal advisory.
Deal counterpart FanDuel is reported to have recruited California law firm Wilson Sonsini Goodrich & Rosati working alongside Scotland’s Shepherd and Wedderburn as UK advisor.
Source: SBC News
