Business: Those Guns for Hire

Shooting it out for McGraw-Hill and American Express

"Corporate takeovers are analogous to feudal wars, and the lawyers are the mercenaries."

—Lawyer Martin Lipton

Marty Lipton might have added that the courtroom has replaced the board room as the main jousting arena, and that whenever a company wants to stage—or defend against—a raid, its management usually calls up either of two New York lawyers. One is Lipton, a partner in Wachtell, Lipton, Rosen & Katz. The other is Joseph Flom, a partner in Skadden, Arps, Slate, Meagher & Flom. Both experts in the exquisite art...

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