It’s big, it’s here – King & Wood Mallesons SJ Berwin launches and unveils global management team

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It’s big, spanning continents, oceans, hugely disparate cultures and a complex governance and profit-sharing model and it’s going live today (1 November) – welcome to King & Wood Mallesons SJ Berwin.

The firm has now confirmed who will be taking on the task of managing the newly-merged giant after announcing the line-up of global practice heads and its new management committee. (For lawyers who spent their summer in a cave, the firm is the combination of top 25 UK practice SJ Berwin and Asia-Pacific giant King & Wood Mallesons).

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Consolidation update – Dentons and McKenna chiefs back tie-up with November partner vote to follow

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Dentons looks set to secure another substantive merger after management of the firm and US suitor McKenna Long & Aldridge this week approved proposals for its mooted union, clearing the way for partners to vote on the tie-up in November.

With both having confirmed the merger discussions in late September, the impending union looks set to create a firm with more than 3,100 lawyers around the world and push revenues through £1bn.

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Those US mergers keep coming – Orrick closes in on deal with Pillsbury to forge top 10 giant

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One of the most prolific merger suitors of recent years – Orrick Herrington & Sutcliffe – is at it again with the top 30 US practice close to securing a merger with the 600-lawyer practice Pillsbury Winthrop Shaw Pittman.

The discussions, which were confirmed on Friday (25 October), could see Orrick sign a letter of intent as early as this week to recommend a combination with Pillsbury to its partners. A deal would create a 1,800-lawyer practice with revenues of around $1.4bn, putting it in the top 15 law firms in the world by fee income.

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Slater & Gordon takes over Manchester PI firm as Pannone vote looms

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ASX-listed firm Slater & Gordon (S&G) continues to make inroads into the UK’s personal injury (PI) market having confirmed today (24 October) it has acquired Manchester-based clinical negligence and PI practice John Pickering & Partners.

S&G, which generates an annual revenue of £27.7m, made the announcement at its annual general meeting in Australia yesterday, but made no mention of recent reports that it is in talks to acquire Manchester-based Pannone’s consumer services business. Continue reading “Slater & Gordon takes over Manchester PI firm as Pannone vote looms”

Comment: The air of unreality – can the big deal deliver for Ashurst?

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‘Historically, what killed Ashurst’s mergers has been apathy. Latham, Fried Frank, Clifford Chance – people were apathetic.’ So recalls one former veteran of the City firm.

Ashurst has finally voted on a transformative merger with its Australian partner. But even two years since the firm agreed a formal alliance with big six Australian outfit Blake Dawson, the idea of Ashurst going through with the tie-up still seems odd, unreal even, though this timeframe was always set out and the Australian practice immediately took the name of its City suitor. Continue reading “Comment: The air of unreality – can the big deal deliver for Ashurst?”

Consolidation watch: Dentons and McKenna Long in merger talks

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Dentons and McKenna Long & Aldridge confirmed late on Monday (30 September) that they are in merger talks to create a firm with more than 3,100 lawyers around the world.

The firms are reported to be aiming to complete the deal by 1 January 2014 and in response Dentons issued the following statement to the US media:

‘Since creating Dentons earlier this year, we have been very clear in our determination to always deepen our capabilities to serve clients in the U.S. and around the world.

‘This has included discussions with firms and lawyers for whom we have great respect and share common goals. Continue reading “Consolidation watch: Dentons and McKenna Long in merger talks”

The air of unreality – can the big deal deliver for Ashurst?

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‘Historically, what killed Ashurst’s mergers has been apathy. Latham, Fried Frank, Clifford Chance – people were apathetic.’ So recalls one former veteran of the City firm.

As Legal Business goes to press Ashurst is finally about to vote on a transformative merger with its Australian partner. But even two years since the firm agreed a formal alliance with big six Australian outfit Blake Dawson, the idea of Ashurst going through with the tie-up still seems odd, unreal even, though this timeframe was always set out and the Australian practice immediately took the name of its City suitor.
Continue reading “The air of unreality – can the big deal deliver for Ashurst?”

Ashurst closes in on Australian tie-up and leadership election

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As Ashurst dots the Is and crosses the Ts on its merger with Australian top-tier firm Blake Dawson, a number of partners report an internal mood of resignation, despite a two-year courtship that has avoided significant tension or fallout.

As Legal Business went to press, both firms were to vote on full financial integration following the 2011 deal that aligned the pair ahead of this year’s vote. The merger will create a top 50 global law firm with revenues of well over £500m. Continue reading “Ashurst closes in on Australian tie-up and leadership election”

Consolidation in the second 50 – Manches and Penningtons confirm talks

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From within the over-crowded space that is the lower of half of the LB100, beleaguered 139-lawyer Manches has emerged as being engaged in advanced merger talks with private client firm Penningtons to create a £60m firm with over 300 lawyers.

Manches was earmarked as a firm in need of a merger in this year’s LB100 analysis, after turning out one of the worst performances of the group – in notable contrast with other firms focussed on the burgeoning private client sector – with revenues down by 13% to £26.3m, shifting the firm down 11 places to 93, its lowest rank ever in the table.

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Further PI shake up appears imminent as Pannone votes on Slater & Gordon part acquisition

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Acquisitive Slater & Gordon looks set to acquire the personal injury practice of Manchester-based Pannone as sources close to the firm say it will vote next week in what is tipped to be a done deal.

The Australian Stock Exchange (ASX) listed firm, which last month announced its acquisition of Manchester-based personal injury firm Fentons, is understood to have been in talks with Pannone for several months.

Continue reading “Further PI shake up appears imminent as Pannone votes on Slater & Gordon part acquisition”