Slater & Gordon CEO John Somerville said the law firm didn’t belong on the ASX, as it confirmed on Friday it was working with private equity firm Allegro Funds on a $150 million buyout.
The agreed bid would end a tumultuous 15 years on the stock exchange, something Mr Somerville described as “a positive, welcome development”.
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Michael Pelly is the legal editor, based in our Sydney newsroom. He has been a senior adviser to federal and state attorneys-general and written two books, one a biography of former High Court Chief Justice Murray Gleeson. Email Michael at michael.pelly@afr.com
