Dewey’s potential merger with SNR Denton falls apart
Following Mondays revelation that failing New York law firm Dewey & LeBoeufs management team sent a memo to all of its partners suggesting they seek other employment, things have continued to head south.
May 03, 2012 at 07:07 AM
23 minute read
The original version of this story was published on Law.com
Following Monday's revelation that failing New York law firm Dewey & LeBoeuf's management team sent a memo to all of its partners suggesting they seek other employment, things have continued to head south.
The Wall Street Journal reported yesterday that merger talks between Dewey and law firm SNR Denton collapsed after nine days of intensive negotiation. The discussions deteriorated after news broke last weekend that former firm chairman Steven Davis was relieved of his duties amid questions surrounding his conduct and a Manhattan district attorney's office probe.
SNR Denton reportedly had suggested a full merger in which it would have assumed the more than 1,000 remaining Dewey attorneys. However, the deal was dependent upon the merged firm's ability to secure hundreds of millions of dollars in financing, which the new entity would have repaid over a period of five years.
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Trending Stories
- 1The Law Firm Disrupted: For Big Law Names, Shorter is Sweeter
- 2Wine, Dine and Grind (Through the Weekend): Summer Associates Thirst For Experience in 'Real Matters'
- 3'That's Disappointing': Only 11% of MDL Appointments Went to Attorneys of Color in 2023
- 4What We Know About the Kentucky Judge Killed in His Chambers
- 5'I'm Staying Everything': Texas Bankruptcy Judge Halts Talc Trials Against J&J
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250