Sullivan advised JPMorgan, led by chairman Rodgin Cohen and flanked by finance and M&A partner Mitch Eitel. Simpson Thacher & Bartlett is understood to have taken the lead mandate advising Washington Mutual.
Cravath Swaine & Moore also took a role as JPMorgan simultaneously launched a $10bn (£5.4bn) fundraising, selling common stock to the public to add capital to its balance sheet. New York-based corporate partner William Fogg led the Cravath team.
The WaMu failure is the largest bank failure in
It also extends the financial services giant’s reach to
Earlier this week it emerged that Rodgin Cohen also led on a team advising Goldman Sachs on its transition from an investment bank to holding company.
Simpson Thacher also took the mandate for WaMu earlier this year when it raised $7bn (£4bn) in capital through the sale of equity securities to investors including buy-out house TPG Capital.
Simpson Thacher & Bartlett advised WaMu, while Cleary Gottlieb Steen & Hamilton acted for TPG – formerly Texas Pacific Group – which then purchased shares worth $5bn (£3bn). Skadden Arps Slate Meagher & Flom also bagged a role on the cash injection, representing arrangers Goldman Sachs and Lehman Brothers.
Keep abreast of all the latest post-Lehman developments in our Legal Week Wiki special.
