Davis Polk, Wachtell Rebuff Treasury's Advances

Law360, New York (October 14, 2008, 12:00 AM EDT) -- Davis Polk & Wardwell and Wachtell Lipton Rosen & Katz were among four specialist law firms that declined to submit proposals in response to the U.S. Treasury Department's search for an adviser on taking equity stakes in banks as part of its $700 billion bailout plan.

Wachtell spokesperson Gail Edelman confirmed a report Tuesday by AmLaw Daily that Wachtell was among the total of six firms approached by the Treasury Department, but declined to reveal the firm's reason for shaking its head at the recruitment effort....
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