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WHAT WE'RE WATCHING

NOT TO SCALE - Yesterday in this space, we told you about how Big Law has set its sights on emerging U.S. markets, looking to cannonball into small ponds. But, as Law.com's Andrew Maloney reports, an influx of sizeable firms, while disruptive to a secondary market, does not always lead to a sizeable jump in rates—or attorney salaries, for that matter. While plenty of firms tout a uniform salary scale across offices—particularly during bonus season—part of the rationale of moving into a place like Salt Lake City in the first place is bringing in high-caliber talent for a lower cost. "They attract quality lawyers who they can pay at a lower rate and handle more routine work," Kristin Stark, a principal at Fairfax Associates, told The American Lawyer, referring to large law firms' strategy of moving into places like Austin, Texas, and Utah last year.

OFFERING AN OPPORTUNITY - Analysts say the sputtering IPO market may finally take off in 2024—giving a boost to M&A dealmakers and, as Law.com's Trudy Knockless reports, to GCs hoping to put gold stars on their resumes. Analysts forecast interest-rate reductions next year, creating a favorable investment environment that's likely to entice IPO candidates off the sidelines. In-house attorneys say having the experience of shepherding a company through the complex IPO process is often career-changing. "It's a role that requires a great amount of respect, and you use every tool in your toolkit to be successful at it," said Danielle Sheer, GC of data protection firm Commvault.

ON THE RADAR - KKR & Co. has agreed to acquire the remaining 37 percent stake in insurance company Global Atlantic Financial Group for approximately $2.7 billion in cash. The transaction, announced Nov. 29, is expected to close in the first quarter of 2024. New York-based KKR was advised by Simpson Thacher & Bartlett. The Simpson Thacher team was led by partners Christopher May, Jihyun Chung and Joseph Kaufman. Global Atlantic was represented by a Debevoise & Plimpton team led by partner Nicholas Potter. Stay up on the latest state and federal litigation, as well as the latest corporate deals, with Law.com Radar.  

EDITOR'S PICKS

Paul Weiss, Dechert, Proskauer and Baker McKenzie Line Up to Match Cravath Salary Scale By Patrick Smith

ABA Names Longtime Law Dean as First Woman Managing Director of Legal Ed By Christine Charnosky

6th Circuit Dismisses 'Forever Chemicals' Suit Against 3M, DuPont For Lack of Standing By Riley Brennan