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Linklaters won international law firm of the year at last night's IFLR European awards at the Dorchester in London

JP Morgan's $2 per share buyout of Bear Stearns has upset shareholders, leading to speculation that they could postpone the deal

China may have stumbled on a new form of enforcement for its securities markets: public humiliation

Skadden Arps Slate Meagher & Flom is representing Bear Stearns in its sale to JP Morgan Chase. The deal is valued at just $236 million, equivalent to $2 per share - the stricken bank's share price had soared to $159 in April 2007. Bear Stearns is the latest financial institution to suffer from the decline in the global banking industry. UK mortgage lender Northern Rock was taken over by the British government in February 2007 after investors panicked over its exposure to subprime mortgages.

Clifford Chance has represented Khazanah Nasional Berhad on its third issue of exchangeable sukuks (Islamic bonds). The $550 million issue was 10 times oversubscribed. The bonds will be listed on exchanges in Dubai, Hong Kong and Labuan. They are exchangeable into shares of Parkson Retail Group, China's largest department store operator.

Skadden Arps Slate Meagher & Flom is acting for Chicago's stock exchange on a $9.3 billion deal to acquire Nymex, New York's energy trading platform. The new entity will trade a wide range of asset classes, including options and futures, equity indexes, foreign exchange and commodities of all kinds. The takeover will provide investors with greater opportunities to find appropriate investments, according to James Newsome, Nymex's president and CEO. The executive chairman of the new group, Terry Duffy, agreed, saying that technology has provided a bigger platform for customers of the new exchange group.

Skadden Arps Slate Meagher & Flom has announced it is opening an office in São Paulo, Brazil. This is the first physical presence for Skadden in Latin America despite having a dedicated regional practice for nearly two decades.

Norton Rose has hired derivatives and structured finance lawyer Karl Rogers as a partner in its Dubai office. Rogers joined the firm from an in-house position at Shaheen Business & Investment Group in Jordan.

Slaughter and May has advised supply chain management company Umeco on the sale of its three principal chemicals distribution businesses.

Milbank Tweed Hadley & McCloy has advised Dutch shareholder Sun Sage in the sale of its stake in Mando Corporation, a Korean car parts company, to an engineering consortium led by Halla. The $763 million deal also includes a linked redemption of bonds issued by Sun Sage.