Orrick and Akin Gump call off merger talks
Orrick Herrington & Sutcliffe and Akin Gump Strauss Hauer & Feld have called off merger discussions just six days after the firms acknowledged they were in "preliminary" talks over a tie-up, reports The Am Law Daily. In a statement, an Orrick spokesperson said: "Orrick and Akin Gump have mutually agreed to conclude preliminary discussions regarding the possibility of a merger. "The firms appreciated the opportunity to have the discussions, which confirmed their mutual respect for one another. However, the firms have determined not to proceed."
October 04, 2010 at 11:14 AM
2 minute read
Orrick Herrington & Sutcliffe and Akin Gump Strauss Hauer & Feld have called off merger discussions just six days after the firms acknowledged they were in "preliminary" talks over a tie-up, reports The Am Law Daily.
In a statement, an Orrick spokesperson said: "Orrick and Akin Gump have mutually agreed to conclude preliminary discussions regarding the possibility of a merger.
"The firms appreciated the opportunity to have the discussions, which confirmed their mutual respect for one another. However, the firms have determined not to proceed."
You can cue the predictable jokes about Orrick's penchant for flirting with potential merger partners only to have those talks collapse with varying degrees of speed. In the past decade, the firm has been linked with at least half a dozen firms, most notably Dewey Ballantine in 2006 and, earlier this year, SJ Berwin.
The much-touted Dewey mega-merger collapsed when star Dewey partners bolted and the two firms failed to solve spats over pension plans and membership on key committees.
Since the breakdown of talks with SJ Berwin, announced in May in an internal email from chairman Ralph Baxter (pictured), the UK firm has gone on to maintain a sustained courtship with New York's Proskauer Rose.
One Akin Gump partner commented: "There appears not to have been sufficient enthusiasm within the Akin Gump partnership for this combination. I and many other Akin Gump partners look forward to the further international expansion of the firm, whether through lateral recruitments, strategic acquisitions, or, in the right circumstances, a larger transaction."
The Am Law Daily is a blog on law.com, Legal Week's US affiliate title.
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