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Paul Weiss seems to make headlines recently by offering perks in comparison to other firms. Will Paul Weiss attract a larger number of applications this year? 

• 🤩 Paul Weiss’ market-topping vacation scheme package

• 🤝 REA Group ups Rightmove bid to £6.1bn

Paul Weiss is hoping to entice top talent from all backgrounds to its new Vacation Scheme programme

The firm has offered perks that include giving them half of their pay upfront and a £250 “professional attire grant”.

The firm launched its twice-a-year two-week work experience scheme last week with the first scheme starting next spring. A total of 10 spots are up for grabs on each spring and summer scheme and A-Level grades are not a part of the eligibility criteria, says The Lawyer.

All vac schemers will get a £1,500 salary, with half paid upfront + £250 towards clothing, free accommodation and travel, and free breakfast and lunch from Monday to Thursday.

They have put social mobility at heart.

This makes the firm particularly attractive as a place where socially mobile can excel and are supported with their needs such as affording professional attire. Now the question that have is, will a lot of applicants apply to Paul Weiss this year and if so how many of these are going to be from a socially mobile background?

Featured News

Rupert Murdoch’s REA group ups offer for Rightmove to £5.9bn

What’s going on HERE?

REA group made an initial cash and stock offer, which valued the business at 705p a share - giving Rightmove shareholders 18.6% of the enlarged REA group post-deal. However, this offer was unanimously rejected.

The Rupert Murdoch-controlled Australian property group REA has now upped its proposed offer for Rightmove, the UK’s biggest online property portal, to £5.9bn. Therefore, offering 750p for cash and stock offer.

REA now has until the end of the month to make a formal offer for Rightmove or give up its pursuit of the company under UK takeover rules known informally as PUSU, “put up or shut up”.

Why is this happening?

The UK online property market has been the focus of increasing merger and acquisition activity in recent years. Last October the US property data company CoStar paid £100 million for the UK’s OnTheMarket site as a launchpad for its ambition to “participate aggressively” in the property portal game across Europe.

In 2018, the US private equity group Silver Lake acquired Zoopla, the UK’s second-biggest property portal and owner of brands including PrimeLocation, for £2.2bn.

The change in the market shows REA's eagerness to take over Rightmove before anyone else joins the race.

What are its impacts on REA?

The offer from REA and the enlarged group presents a highly attractive investment opportunity, given an easing interest rate environment in the UK and the recent new investment starting to pay off.

REA are the largest player in the Australian online property space which has already developed a foothold in Asian countries including India. The takeover of Rightmove will allow them to set foot in one of the most stable property markets in the world.

What are its impacts on Rightmove?

If the deal is eventually completed for Rightmove. It would open a secondary listing on the London Stock Exchange, arguing that this would “provide an opportunity for a wider pool of investors to gain exposure to a global and diversified digital property company on the LSE.

Which firms are involved?

Linklaters are advising Rightmove on the offer and Freshfields are advising REA.

Hope you enjoyed it! 

Lemah Islam