Law Firm Merger Activity Abroad Highlights First Half Frenzy
Cross-border combinations continued to propel law firm merger activity through the second quarter of 2017 as U.S. firms continue to look outside the domestic marketplace for growth opportunities, according to reports released Wednesday by legal consultancies Altman Weil Inc. and Fairfax Associates.
July 05, 2017 at 06:15 PM
24 minute read
Cross-border combinations continued to propel law firm merger activity through the second quarter of 2017 as U.S. firms continue to look outside the domestic marketplace for growth opportunities, according to reports by legal consultancies Altman Weil Inc. and Fairfax Associates.
Over the first half of 2017, there have been 52 combinations announced, including 24 within the last three months, which Altman Weil's report said surpasses last year's mid-year total of 48 tie-ups, a former first-half record. There were five cross-border acquisitions in the second quarter. This brings the total number of cross-borders deals to 11 in 2017, according to Altman Weil's study, which counts mergers and combinations as they are announced, rather than completed.
“More firms are looking to grow through a major merger driven by flat U.S. demand and the fact that their lateral hiring at many firms has not delivered as anticipated,” said Altman Weil principal Eric Seeger. “[So] firms are looking for other avenues for growth, which is fueling renewed interest in cross-border deals.”
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