Often considered the most recognizable law firm outside the legal industry, the firm is considered one of the most prestigious in the world, consistently ranking in the top five of Vault's annual list of the top law firms in the U.S.
1. Law Firm Profile
Skadden, Arps, Slate, Meagher & Flom LLP & Affiliates
By Rebecca Neely
Founded in 1948 by Marshall Skadden, John Slate and Les Arps, Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates is a
prominent law firm based in New York City. With over 2,000 attorneys in 24 offices, it is one of the largest and highest grossing law
firms in the world. Total employees number nearly 4,500.
Skadden’s world headquarters are in the Condé Nast Building, has played a significant role in U.S. and international business.
Times Square, New York
The firm has participated in many notable deals and cases,
Skadden is among the largest law firms in the U.S. in terms including the RJR Nabisco buyout, orchestrated by Kohlberg
of revenue. In 1999, the firm became the first to exceed $1 Kravis Roberts & Co. It is the largest such deal in history,
billion in annual revenue. adjusted for inflation. Partner Peter Atkins led the Skadden
team, which advised the RJR board of directors as to the
Despite its size, Skadden is known for its refusal to expand by financial soundness of the respective bids. Skadden’s fee at
mergers with other law firms or large acquisitions of practice the time was reported to be $25 million.
groups. The firm has never acquired a practice group larger
than six attorneys, in sharp contrast with rivals such as Baker The firm represented HealthSouth Corporation, based in
& McKenzie, which has repeatedly absorbed local practices, Birmingham, Alabama, after the Securities and Exchange
and DLA Piper and Clifford Chance, which are the products of Commission charged former management of committing
large mergers. fraud. Scott Simpson leads the European M&A division from
London and has represented Gucci Group and Arcelor during
In addition to its headquarters in New York, which is the their attempts to repel high-profile hostile takeovers. Gregory
largest single law office in the U.S., Skadden’s domestic Miao and Jon Christianson of the Hong Kong office led the
practice is well known in Los Angeles, Chicago, Boston, IPO of the China Construction Bank, the largest of 2005. The
Wilmington and Washington, D.C., offices. The firm also has firm currently represents XM Satellite Radio Holdings, Inc., in
high profile practices in London, Frankfurt, Munich, Tokyo, and its approximately $13 billion tax-free merger-of-equals with
Hong Kong. Sirius Satellite Radio, Inc. The firm represented Yahoo! in its
proposed takeover by Microsoft.
The firm’s most well known alumni include former New York
Governor Eliot Spitzer, Chelsea Football Club’s Chairman Bruce Unlike some firms which have introduced two-tier partnerships
Buck, and the late comedian Greg Giraldo. with equity and non-equity partners, Skadden maintains a
one-tier partnership, in which all partners are equity partners
Often considered the most recognizable law firm outside and share ownership of the firm.
the legal industry, the firm is considered one of the most
prestigious in the world, consistently ranking in the top five of Joseph H. Flom became the firm’s first associate in 1948.
Vault’s annual list of the top law firms in the U.S. and boasting Of the firm’s five ‘’name’’ partners, Flom is the only one still
highly competitive foreign practices. living. He is recognized as a pioneer in the field of mergers
and acquisitions.
Among Skadden’s main practice areas are mergers and
acquisitions (M&A), litigation, securities law, taxation, Skadden has been the recipient of innumerable awards and
and bankruptcy representation. Many Fortune 500 top 50 honors. These include Chambers and Partners selecting
companies are, or have been, clients of Skadden. Skadden as the Global Corporate law Firm of the Year for
2006. In 2006, Corporate Board Member Magazine named
Famed for pioneering mergers and acquisitions and hostile Skadden the top corporate law firm in America, as selected by
takeovers in the American corporate environment, Skadden 1,390 directors of publicly traded companies.
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2. Law Firm Profile
Vault, Inc. ranked Skadden fourth on its ‘’Top 100 Most means and small non-profits. In addition, Skadden lawyers
Prestigious Firms - 2008’’, a survey which asked law firm have been instrumental in the start-up of organizations
associates to rank the prestige of various firms. created to provide legal services to those in need.
In 2007, Skadden was ranked #9 on the Avery Index list of In addition to actual pro bono legal work, the firm’s lawyers
the Best Prestigious Law Firms to Work For. Skadden ranked have been active in a wide variety of charitable endeavors,
first by volume and deal count in representing issuers of working with, sitting on boards of, and even running, many
U.S. High Yield Offerings, with 10 deals worth US$5 billion, types of civic, community, cultural, governmental, educational
according to Bloomberg’s Q3 2006 Legal Adviser League and medical organizations, a number of which seek to improve
Tables published in October 2006. the lives of the less fortunate.
A commitment to public service has always been deeply The Skadden Fellowship Foundation was established in 1988,
ingrained in the firm’s culture. In the mid-’80s, Skadden the same time as the firm’s 40th anniversary. The Foundation
was one of the first firms to have a senior lawyer devote a demonstrates the firm’s commitment to public interest work,
substantial portion of his time to coordinating the firm’s pro which annually provides two-year fellowships to at least
bono efforts. The firm has always been a staunch supporter of 25 very talented young lawyers so that they may pursue
The Legal Aid Society in New York and similar organizations the practice of public interest law on a full-time basis. The
in other cities, providing both legal services and financial fellowship is considered the most prestigious public-interest
support. The firm’s New York and Washington, D.C. offices grant in the U.S. and is highly sought after by graduates
‘’lend’’ attorneys on a rotating basis to work full time for of top law schools. As of 2006, the firm had awarded 473
groups providing free legal services to individuals of limited fellowships.
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