Law firm mergers signal growing confidence, says report
Fourteen law firm mergers were announced in the US in the first three months of this year, according to a new report from legal consulting firm Altman Weil.
“Firms are revisiting growth strategies that got shelved by the recession [when] they were focused more on short-term revenue and profitability, and strategic plans for growth got set aside,” said Altman Weil principal Eric Seeger. “They didn’t have the cash available to make those investments. Now, cash situations have stabilized in many firms and they have the means to execute a merger.”
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