Kennedys proposed merger with Scottish firm Simpson & Marwick has been delayed, with the firms admitting its initial timetable had been "ambitious".

The tie-up, which would created an Anglo-Scottish firm with a combined projected turnover of more than £160m, had been due to go live next Friday (1 November).

In a joint statement, the firms said: "A number of aspects of the merger could not be finalised within the ambitious timetable we had set ourselves."
A spokesperson for the firm told Legal Week that no new date had been set for the finalisation of the deal.

Simpson & Marwick managing partner Peter Anderson said: "As this is a true merger, considerable efforts are being made on both sides to respect differing practice and business arrangements.

"We imposed on ourselves a tight timetable and we have not been able to resolve all the merger details by our proposed date. However, we continue to work on this and will make a further announcement as soon as possible."

Partners at both firms voted in favour of the merger in August. If the tie-up goes ahead, the combined firm will retain the Kennedys name, although it will be known as Kennedys Simpson & Marwick in Scotland for a short period.

Kennedys' senior partner Nick Thomas (pictured) commented: "Since announcing our merger, the two firms have been working increasingly closely together. There is a huge amount of goodwill between the two firms and we remain confident of being able to conclude matters shortly."

In June, Kennedys merged with Gates and Partners, with 20 partners joining from the aviation and aerospace specialist.