Credit: Blue Planet Studio/stock.adobe.com 'Higher Level' of Law Firm Merger Activity Expected in 2025, but Tie-Ups Remain Steady so Far
"I do think there are fewer options" for merger partners, noted consultant Lisa Smith, "although there's always new firms forming, and new firms spinning off."
October 01, 2024 at 04:16 PM
5 minute read
What You Need to Know
- Even with a a flurry of law firm merger activity lately, the number of completed mergers in Q3 is the same as it was in 2023.
- With some mergers already announced for 2025, analysts still expect a higher level of activity for 2025.
- Competition for legal talent and the drive for practice and geographic depth all contribute to combination interest.
Despite a flurry of law firm merger activity over the last couple of months, the number of completed combinations through the third quarter of 2024 remained "steady," according to an industry report Tuesday, with the total exactly the same as it was last year at this time.
A quarterly merger report from Fairfax Associates tallied 11 completed combinations through Q3 this year and 41 for the year. Despite some game-changing tie-ups in the Am Law 100 and multiple announcements even just this week, the total is "on pace with 2023, which also saw 41 mergers through the first three quarters," the report noted.
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