Law firms

Three months to make a $3bn merger: how McDermott sealed the Schulte deal in double-quick time

Three months to make a $3bn merger: how McDermott sealed the Schulte deal in double-quick time

‘It was from May to July, from discussion to finalisation’, says Ira Coleman (pictured top), chairman of the newly merged McDermott Will & Schulte. ‘That’s amazing. No one has ever been able to pull off a legal merger in that kind of timeframe before.’

The timing is indeed impressive. The merger was first announced in May: an ambitious combination between two US firms, McDermott Will & Emery and Schulte Roth & Zabel, that would produce a firm with $2.8bn in revenue – enough to put it within touching distance of the top ten largest firms in the world.

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