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Credit Suisse First Boston and ING Barings turned to Davis Polk and Wardwell in connection with a rule 144A/Regulation S offering of $200 million in shares by Jomed NV. The shares are being offered publicly in Switzerland. Holland-based Jomed is a European medical technology company that specializes in the development and manufacture of stents for cardiology.

S J Berwin has advised The British Land Company in relation to its £357 million ($516 million) joint venture with West LB, Westdeutsche ImmobilienBank (WIB) and Provinzial-Feuerversicherungsanstalt Der Rheinprovinz-Versicherung Der Sparkassen (PFR). British Land has a 50% interest in the joint venture, contributing four properties in London. The joint venture was funded by a £265 million loan from West LB and equity contributions by the joint ventures.

Ashurst Morris Crisp has advised AMVESCAP Plc on its cash offer for Perpetual Plc. The deal is valued at £1.05 billion ($1.5 billion), with two shares and £10 cash given for each Perpetual share.

Linklaters & Alliance advised RWE AG on its recommended cash offer for Thames Water plc. This is the first acquisition in the UK by the German utility group and is valued at £4.3 billion ($6.2 billion).

Ashurst Morris Crisp has acted for the shareholders of Taylor Barnard Holdings Limited on the sale of the issued share capital of the company to TNT Post Group. The deal was valued at Euro147 million ($123.3 million).

Slaughter and May is advising Regus in connection with its planned £1 billion ($1.45 billion) listing on NASDAQ and the London Stock Exchange. Headquartered in Middlesex, UK, Regus is a worldwide operator of business centres, with 200 locations in 40 countries.

International information and communications technology group, GN Great Nordic, looks set to improve its position in the optical communications test equipment market following the $1.05 billion purchase of Photonetics, a French manufacturer of fibre-optic networking equipment. Photonetics will become part of GN Nettest, one of three hi-tech divisions within Great Nordic.

Broadbase Software, a California-based provider of analytic and marketing automation applications, has agreed to purchase software manufacturer Servicesoft for £645 million ($934 million) in stock.

Allen & Overy is advising the technology and investment company BTG on a £125 million ($180 million) rights issue. BTG hopes to invest the money raised in a variety of projects to strengthen its competitive position in the intellectual property market in Europe and North America. Partner David Lewis, of Allen & Overy's London office, is advising BTG on tax matters. Credit Suisse First Boston (Europe) is underwriting most of the rights issue. Associate James Inglis at Linklaters in London is working on the deal.

Tax advisory work is changing. Dramatically. Globalization and e-commerce mean that companies are looking for an increasingly niche set of skills. Is hourly billing still appropriate in this environment? Georgina Stanley reports