Euro indies eye up merger opportunities
Legal Week reports
November 29, 2006 at 07:03 PM
2 minute read
Europe's independent firms have become more open to the possibility of a merger, according to Legal Week research, as the Continent's cross-border transactional activity continues to boom.
The survey, published in this week's 68-page Independent Law Firms in Europe supplement, found nearly half of Europe's independent firms were open to merging with a fellow independent firm or an international practice.
One hundred and sixteen independent firms from across Europe took part in the survey, with 42% saying they would consider a merger with another independent firm, while 39% said they would consider a merger with an international firm.
The figures show a sea change compared with similar research in 2004, when just 9% of respondents said they would consider a merger. Much of the change came from responses from firms in emerging markets, which were more open to a tie-up than those in more mature jurisdictions.
The former managing partner of Dutch leader and Slaughter and May ally De Brauw Blackstone Westbroek, Jaap de Keijzer, ruled out the possibility of his firm merging, but commented: "Clients are consolidating and law firms will too. There will not be enough space in the market for the number of national firms there are today."
Legal Week's Independent Law Firms In Europe supplement will be available online from 6 December.
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