Consolidation in the legal market - mergers on the up
Law firm mergers are on the increase in the US, with 14 acquisitions in the third quarter of this year – up 79 per cent compared to the third quarter of 2010. The results are part of an ongoing trend, according to legal consultant Ward Bower of Altman Weil Inc, who points out that: “This is the fourth strong quarter in a row we’ve seen, and we’re aware of a lot of activity in the pipeline.”
The overseas legal merger market has also had a lot of activity, with the imminent merger of British firm Clyde & Co with Barlow Lyde & Gilbert, and another British firm, Ashurst, announcing plans to merge with Australia’s Blake Dawson by 2014.
US firm Squire, Sanders & Dempsey has merged with Australian firm Minter Ellison’s Perth office, while Mallesons Stephen Jaques, another leading Australian firm, is in merger negotiations with Chinese firm King & Wood.
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