Consolidation in BigLaw: it is 'only a matter of time'
There may be more mergers between large law firms in the pipeline, according to Mark Wood – a restructuring partner from the Nottingham office of law firm Eversheds. Wood said: "The mergers we've seen this time around for most law firms are the result of necessity and economic rationalisation, as opposed to expansionary forces. “Historically, mergers were done for growth reasons, but now I think it is generally accepted that recent consolidation has been focused on efficiency, savings and diversification in an increasingly competitive legal market. And while many of the recent mergers have been between small and mid-sized firms, it is "only a matter of time" before large law firms start to conclude merger agreements, says Wood.Consolidation in BigLaw: it is 'only a matter of time'
Thu, Aug 25, 2011 insidermedia.com