Wake Up Call: Four Firms Guide Deal Creating $1.5 Trillion Asset Manager

In today’s column, Russia is back on the hook for a $50 billion arbitration ruling won by ex-owners of Yukos Oil, which are Shearman clients; Sidley Austin is advising Boy Scouts of America on its bankruptcy filing in Delaware; Saul Ewing posted revenue and PEP gains in 2019; and Hogan Lovells and Davis Polk advised on Dell’s $2.08 billion sale of a cybersecurity unit.

• Leading off, asset management pioneer Franklin Resources, advised by Willkie Farr & Gallagher, agreed to acquire its rival Legg Mason Inc. in a deal to create a global investment manager with a combined $1.5 trillion in ...