LG and Field Fisher set for summer merger vote as talks move forward
LG and Field Fisher Waterhouse partners could vote on a proposed merger between the two firms as early as next month. The pair have been in talks since October last year, with the vote expected to take place later this summer, assuming talks continue.
May 31, 2012 at 07:03 PM
2 minute read
LG and Field Fisher Waterhouse partners could vote on a proposed merger between the two firms as early as next month.
The pair have been in talks since October last year, with the vote expected to take place later this summer, assuming talks continue.
A proposal outlining detailed terms of the deal, which would take the form of a full financial merger, is likely to be issued to partners within the next month, with the vote to take place shortly after.
If the deal goes ahead, Field Fisher would move out of its Vine Street office into LG's premises at More London Riverside, with LG having enough space to take on all staff from Field Fisher in London.
A merger between the two firms would create a combined entity with turnover of more than £150m, placing it just outside the UK top 20. Profits per equity partner stood at £510,000 at Field Fisher in 2010-11, compared to £412,000 at LG.
Field Fisher has called in accountancy firm Grant Thornton to conduct due diligence on LG, with LG also instructing an accountant.
LG, which has been seeking a UK merger for some time, has around 74 partners including 37 full equity partners who are spread across a nine-level ladder, based on both lockstep and merit elements.
Field Fisher had 140 partners on 1 May 2011, of which 45 were full equity partners. The firm's equity ladder runs from two to 10 points, with partners moving up or down each year according to individual performance.
One ex-LG partner commented: "It would actually be a really interesting merger because they have very different strengths, so they will be able to avoid the unhealthy competition and fallout that happens when firms with similar practice strengths merge."
This content has been archived.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 AllBig Four Japanese Firm Mori Hamada Launches Foreign Joint Law Enterprise, Joins Rebrand Drive
Cox & Palmer to Merge with Benson Buffett in St. John’s, Canada’s Easternmost City
2 minute readAsia's Top Stories 2024: Departures, Layoffs and Breakups at the Likes of Kirkland, Skadden and Mayer Brown
Trending Stories
- 1Recent Decisions Regarding the Telephone Consumer Protection Act
- 2The Tech Built by Law Firms in 2024
- 3Distressed M&A: Mass Torts, Bankruptcy and Furthering the Search for Consensus: Another Purdue Decision
- 4For Safer Traffic Stops, Replace Paper Documents With ‘Contactless’ Tech
- 5As Second Trump Administration Approaches, Businesses Brace for Sweeping Changes to Immigration Policy
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
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