Harmony in too deep as legal costs on Gold Fields takeover spiral

Power, Helen
December 2004
Lawyer;12/6/2004, Vol. 18 Issue 47, p1
Trade Publication
Reports that Harmony, the South African company embroiled in a 3.5 billion-pound hostile takeover battle for mining rival Gold Fields, is facing major overruns on its shoestring legal and other advisory budgets. Use by Harmony chief executive Bernard Swanepoel, who is known for his cost-conscious approach, of the services of South African law firm Cliffe Dekker and the U.S. firm Hogan & Hartson; Result when Gold Fields, advised by Linklaters and Skadden Arps Slate Meagher & Flom, decided to fight the bid in U.S. courts; Harmony's need to draft in Simpson Thatcher & Bartlett.


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