Lost Auction Bids Test PE Lawyers' Business Savvy

Law360, New York (November 7, 2011, 3:18 PM EST) -- When private equity big shots fail to win in auctions to take over companies, they may not be eager to shell out for legal services associated with preparing the bid. Handling that situation delicately is key to maintaining a lasting client relationship, attorneys say.

Lawyers say they are prepared to make changes to fee structures at any time during the auction process, cutting legal bills down to size, sticking to hard caps on fee estimates or even simply doing the work for free.

"It's done as...
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