Proskauer Rose and SJ Berwin call off negotiations for transatlantic merger
After months of speculation about a transatalatic merger between New York-based Proskauer Rose and London-based SJ Berwin, the two firms have called off their negotiations.
In a joint statement the firms said "we recognized that the timetable necessary to reach the agreements that would ensure the successful integration of our firms is not workable at this time."
"Our discussions began on the basis of a longstanding and profound mutual respect founded on outstanding lawyering ability, a commitment to client service, and synergistic practice capabilities," the firms said in their statement. "Our discussions end with the same profound respect, and with the greatest admiration for all the partners we have met during the course of the process."
Rob Day, the managing partner of SJ Berwin, told Legal Week that to seal a deal would have taken "several more months" and "that would have meant too much uncertainty for both partnerships."
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