Counter bid for Hackman puts management in a spin

Ali Group, an Italian kitchenware maker, has trumped Nordic Capital's bid for Hackman, a listed Finnish kitchens company with a €181m ($217m) all cash offer. Hackman's management have now switched their allegiance to the Ali offer.

Hackman's board of directors had recommended the €159m cash offer which Nordic Capital, a buy-out firm, made last month. It has now recommended shareholders accept Ali's bid. Hackman is advised by Enskilda Securities.

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Pro Bono or Pro Nono? Law Firms Split on Fulfilling Deals With Trump