Hitting the target
Pushing through any merger between two law firms is hard enough, but when transatlantic mergers are undertaken the problems are increased tenfold, due mostly to a lack of foresight by management, says Peter Scott
July 30, 2003 at 08:03 PM
2 minute read
Successful mergers do not just happen overnight – they need to be supported by, as a minimum, a good business case, compatible 'cultures' and vision and leadership by those managing the merging firms. Above all, they have to be worked at, because implementation of the vision can often be make or break for a merger.
Rarely, however, do we hear of firms factoring into the process the question arguably the most critical to a successful merger – 'Do we have a management team capable of successfully implementing our merger?'
Being able to respond positively to that question in relation to a UK domestic merger, of whatever size, is crucial enough to future success. But for potential mergers between large UK and US firms, which are likely to become more common with increasing globalisation, the issue takes on an even greater significance.
Look at many large law firms and, leaving aside the demands of a merger, it is clear that some do not have good enough management in the shape of leaders who have vision and the determination to drive through that vision. On the assumption that a large UK/US merger has a strategic rationale, making for a 'good fit' and that issues relating to different cultures, work ethics, taxation, accounting and regulatory matters can be satisfactorily worked out, a nagging doubt still remains. This is as to whether, given the size of the task before them, the merging firms will have sufficient quality management resource with which to effectively implement the merger, to fully achieve their stated objectives.
Any firm contemplating such a merger is probably grappling with a range of issues, such as:
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
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.
You Might Like
View AllSkadden to Close in Shanghai and Make Cuts to China Corporate Practice
DWF Group's Canadian Firm Set to Add Fourth Office With 16-Lawyer Montreal Team
UK Law Firms Face £75M Money Laundering Investigations Alongside Russia Scrutiny
3 minute readTrending Stories
- 1The Law Firm Disrupted: Playing the Talent Game to Win
- 2A&O Shearman Adopts 3-Level Lockstep Pay Model Amid Shift to All-Equity Partnership
- 3Preparing Your Law Firm for 2025: Smart Ways to Embrace AI & Other Technologies
- 4BD Settles Thousands of Bard Hernia Mesh Lawsuits
- 5A RICO Surge Is Underway: Here's How the Allstate Push Might Play Out
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