US firms target larger mergers
Legal Week Reports
January 25, 2006 at 07:03 PM
2 minute read
The US legal market is gearing up for more consolidation as new research shows that large-scale mergers are becoming more common.
According to research compiled by consultancy Hildebrandt International, there were 49 mergers and acquisitions involving US law firms in 2005, up marginally from the previous year's figure of 47.
However, the key trend has been the increasing size of the deals. The average number of lawyers at the smaller firms acquired more than doubled in 2005, shooting up from 2004′s figure of 30 to 67 lawyers. The finding reinforces the claims of many US national firm leaders that they must grow in order to keep hold of their key clients.
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