Merger Mania in Chicago
So far this year, four Am Law 200 firms have picked up smaller shops in the Windy City.
June 18, 2015 at 06:18 PM
3 minute read
The original version of this story was published on The American Lawyer
So far this year, four Am Law 200 firms have picked up smaller firms in Chicago. Nixon Peabody absorbed 100-lawyer Ungaretti & Harris in January. Shook, Hardy & Bacon announced in February that it was acquiring 25-lawyer Grippo & Elden. On June 1, Honigman Miller Schwartz and Cohn bolted on litigation boutique Schopf & Weiss and Cozen O'Connor officially took on 58 lawyers from Meckler Bulger Tilson Marick & Pearson, the latter deal having been announced two months prior.
Why this flurry of activity in Chicago? As law firm mergers pick up nationwide, Chicago stands out as an attractive yet accessible market, with a deep talent pool and a huge business base. Plus, Chicago firms have long been open to mergers. Among the firms that have combined or been acquired in the past decade are Bell Boyd & Lloyd; Lord, Bissell & Brook; Wildman Harrold; and Gardner Carton & Douglas.
“I have noticed a significant increase in the last 18 to 24 months in Am Law 200 firms entering or growing in Chicago,” says Zeughauser Group's Kent Zimmerman, who advised Cozen on its deal with Meckler. In addition, he says, Chicago firms with fewer than 100 lawyers are coming to him to explore opportunities to combine, as clients and some partners pressure them for a more full-service platform.
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