As they reportedly vote on whether to absorb a substantial number of Howrey attorneys, Winston & Strawn partners have plenty to weigh in terms of the legal and financial complications that can ensue when a healthy law firm takes on the assets of one that is failing.
In early February, after three months of talks with their Howrey counterparts about a possible merger, firm leaders at Winston & Strawn instead made individual offers to about three-quarters of Howrey’s 220 partners. The offers, which came with a 21-day deadline, were contingent on an unspecified number of partners accepting Winston’s offer, according to a current Howrey partner and one who recently left the firm.
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