Lawyer Robert Denham dies at 79 in California

Robert E. Denham, a well-known mergers-and-acquisitions lawyer, passed away on Saturday at his home in Pasadena, California. He was 79 years old. His family reported that cancer was the cause of his death. Mr. Denham was recognized for his ability to help troubled companies navigate crises. One notable case involved him working with Warren Buffett to save Salomon Brothers, an investment bank, during a bid-rigging scandal in the early 1990s. At that time, Mr. Buffett was the bank's largest shareholder and had stepped in as interim chairman to manage the crisis. The scandal threatened the bank's survival as traders were accused of manipulating the auction market for Treasury securities. Mr. Buffett aimed to prevent potential criminal charges that could drive customers away and lead to the bank's collapse. He sought Mr. Denham's expertise because he believed the situation required an outstanding lawyer who could respond quickly. Despite having a busy schedule, Mr. Denham agreed to help. He relocated to New York and worked alongside Mr. Buffett. Together, they took a transparent approach with regulators and managed to negotiate a settlement of $290 million, avoiding criminal charges for the bank. Mr. Denham will be remembered for his calm demeanor and strategic thinking during challenging situations.