-- A recent PricewaterhouseCoopers report predicting a series
of law firm mergers in Scotland appears to have been spot on.
According to an article in ABA Journal, the number
of law firm mergers this year has already broken a new record and more mergers are expected before the end of the year.
I had meant to take on something a bit less dry today, but here I am again on the scintillating subject
of law firm mergers structured with Swiss vereins, or, if you strip away the jargon, unions that maintain separate profit pools.
The legal industry has seen a spate
of law firm mergers for the past several years.
With the recent announcement of the Gardner Carton / Drinker Biddle merger, the Wired GC offers some additional commentary on the recent string
of law firm mergers, which Legal Blog Watch covered just two weeks ago.
«Definition
of law firm merger - poorly managed; driven largely by overpaid incumbent management with little real support from grass roots; justifed rarely on good logic but instead on catch words like «scale», «footprint» and «globalisation»...
Not exact matches
National
law firm Mills Oakley has substantially expanded its Perth practice with the recruitment
of partners Julian Atkinson and David McKenna, whose previous
firm Jarman McKenna has entered
merger discussions with Sparke Helmore Lawyers.
Joel joined the
firm in 2002 to learn the ropes, and only after spending some time as an associate at Toronto
law firm of Osler, Hoskin & Harcourt where he specialized in
mergers and acquisitions.
The
merger of two market leaders such as FanDuel and DraftKings would usually attract the attention
of antitrust authorities, said Andre Barlow, an antitrust expert with the
law firm Doyle, Barlow and Mazard PLLC.
Leveraging its Best Friends network
of prominent European
law firms, De Brauw Blackstone Westbroek advised its clients on 53
mergers and acquisitions involving a total
of $ 200.9 billion.
Since 2008 the
Firm was one
of the leading U.S.
law firms involved in each
of the IPO, SPAC, Registered Directs / PIPEs and Reverse
Merger industries.
The Coalition to Save the Children's Psychiatric Center «is disappointed the order was stayed because despite the continuing construction the
merger is not going to happen,» said attorney Steven M. Cohen
of the
law firm of HoganWilllig, which represents the coalition.
Previously, she worked at the
law firm of Goodwin Procter LLP from 2005 - 2012, as a member
of the Private Equity group, primarily focusing on
mergers and acquisitions, private equity transactions, corporate governance matters and the representation
of early - and later - stage growth companies.
But this article,
Law firm Kirkpatrick & Lockhart aims to keep growing (Pittsburgh Post-Gazette 7/27/07) reports that Pittsburgh
firm Kirkpatrick & Lockhart Preston Gates Ellis, the product
of a
merger barely a year ago is looking to grow again by combining forces with Texas
firm, Hughes & Luce, a Dallas
firm of 150 lawyers.
Posts cover breaking news about large
law firm mergers, significant partner moves and leadership changes,
law firm bankruptcies, insights into how technology is changing the delivery
of legal services, how in - house counsel are approaching their work and the ways in which litigation and new regulations are changing the legal business landscape.
The structure
of law firms means that they face very specific challenges when a
merger occurs.
Another compelling reason for local
law firms to pay attention to Google + Pages is the
merger of Google + with local.
Already in Canada, we've seen the Norton Rose / Ogilvy Renault
merger change the local
law firm landscape — there are already several
firms larger than some
of the «Seven Sisters,» and Norton Rose OR will surpass them all in size.
Business
law firm Aird & Berlis LLP is stepping into the world
of artificial intelligence to drive efficiencies in its
mergers and acquisitions and real estate group.
David Brown, CEO
of PIE commented on the
merger, «PSG are a great fit for our business; they share our ethos, passion and dedication to empower
law firms and help them grow within the market place.
Ademi & O'Reilly is a leading securities class action
law firm based in Wisconsin that represents classes
of investors in securities fraud,
mergers & acquisitions, and shareholder derivative litigation.
On the Slaw blog, Steven Matthews observes in this post that the cross-Atlantic
merger between U.S.
law firm Sonnenschein and U.K. - based Denton Wilde Sapte was announced and rolled out by the
firms through an interesting technique: the use
of a dedicated «microsite» (http://www.snrdentoncombination.com).
The legal services industry is increasingly a global marketplace, fueled by more cross-border
law firm mergers this year and continuous innovation in the application
of technology to the practice
of law.
Prior to joining Willoughby & Hoefer, Chris worked for
law firms in Beijing as a member
of those
firms» cross-border
mergers and acquisitions and international arbitration teams.
Akerman LLP, a top 100 U.S.
law firm serving clients across the Americas, was once again recognized by leading legal guide Chambers & Partners as one
of the nation's most prominent
law firms in middle market
mergers and acquisitions, and for complex work within the financial services and real estate sectors.
He has particular experience advising on the pensions aspects
of corporate transactions, transfers
of staff from the public sector, supporting other
law firms and advising employers and trustees
of schemes on strategy, funding negotiations, scheme closures,
mergers and wind ups.
The
firm earned national recognition in the 2017
Law360 400 ranking
of the largest U.S.
law firms, which showed Goldberg Segalla to be the
firm growing the fastest without taking part in a
merger.
Over the past two decades Jon has placed scores
of partners and practice groups at many
of the world's top
law firms and assisted
firms in
merger and branch office acquisitions.
Pay special attention to coverage
of recent developments in
law practice such as
law firm break - ups,
mergers, and movement
of lawyers from
firm to
firm and reports on in - house developments.
Barry said many
law firms with a portfolio
of clients across multiple jurisdictions had looked to grow and keep key clients either by entering into
mergers with other
firms or investing in business development.
The main article and case study
of Management Solutions this quarter deal with
law firm mergers and acquisitions from the standpoint
of professional development personnel.
On the transactional side, we serve as consultants to
law and accounting
firms to provide tax counsel regarding matters as varied as, for example, business succession plan structures, corporate
mergers, acquisitions and reorganizations, and tax - efficient structuring
of property settlement agreements upon divorce.
The
law firm of Sell & Melton was formed in 1980 by the
merger of two prominent Macon
firms: Sell, Comer & Popper and McKenna, House, Lancaster & Green (which had been Melton, McKenna & House, until Buckner F. Melton, Sr. was elected in 1976 to be the Mayor
of the City
of Macon).
Partner numbers across the UK top 50 have grown almost 7 % this year, as a number
of significant
mergers continue to drive headcount growth at leading
law firms.
Driven by international
mergers, the world's 50 largest
law firms by revenue saw turnover climb by an average
of 7.4 % last year to reach a combined total
of $ 63.5 bn (# 40bn).
In the latest Canadian
law firm merger move, mid-size Bay Street shop Aylesworth LLP is being folded into the Toronto affiliate
of Michigan - based Dickinson Wright PLLC.
The
merger of the Manitoba regional
firm and Christianson will enable TDS
Law to expand its services across the region and provide Christianson clients with a broader range
of legal services.
Equity partner headcount among the UK's 50 leading
law firms grew by 3.7 % across the group in 2013 - 14, with the impact
of global
mergers helping to bulk out the numbers.
Partners at the three
firms took part in a conference call earlier this morning, setting out the potential path to one
of the biggest UK
law firm mergers in recent years.
City partners remain sceptical about tie - ups between US and UK
law firms that fall short
of full financial integration, with around 75 % questioning whether such deals can be thought
of as true
mergers.
According to ABA data, 82
law firm mergers were approved in 2014 alone, reflecting the larger trend
of a shrinking legal services industry that eliminated 1,400 jobs in the first month
of this year.
The
firm also worked with Webber Wentzel and Freshfields Bruckhaus Deringer in providing competition
law advice in relation to
merger proceedings across other parts
of Africa.
The
firm was engaged by AB InBev to advise on the commercial
law and regulatory aspects
of the deal in various African jurisdictions, with a focus on securing
merger approval in South Africa.
Following the
merger of the
law firm I was with, I was head hunted by a competing
firm to continue the work I had done in building a global immigration practice.
Merger and acquisition are top management priorities for midsized
law firms in the wake
of the Legal Services Act 2007, research shows.
I'm sure most Canadians
law firm denizens have heard about some
of the latest
firm merger news, but I thought it might be good to catch up with a few links to the news stories.
Norton Rose's transatlantic tie - up with Fulbright & Jaworski has received broad approval from
law firm partners, against a more sceptical reponse to the other major
merger deal
of recent weeks — the proposed three - way union
of SNR Denton, Salans and Canada's Fraser Milner Casgrain (FMC).
Los Angeles / San Francisco / Washington (June 25, 2015)-- McKenna Long & Aldridge heads into its pending
merger with leading global
law firm Dentons with a strong burst
of momentum.
Two thirds
of partners think 2018 will be a better year for UK
law firms than 2017, according to a new survey which also reveals partners are expecting an increase in
mergers in the UK market.
«
Law firm mergers are a fact
of life in today's economy,» says panelist Todd Erich Bennett, who has been through two major
mergers that led to Thelen Reid & Priest forming in late 2006.