Bird & Bird eyes autumn merger with Australian ally
Bird & Bird is understood to be working towards an Autumn merger with its Australian ally Truman Hoyle, according to sources close to the firms.
May 19, 2014 at 02:10 AM
2 minute read
Bird & Bird is understood to be working towards an autumn merger with its Australian ally Truman Hoyle, according to sources close to the firms.
The decision to financially integrate is understood to be subject to a partner vote, and would see the Sydney-based, 30-lawyer firm rebranded as Bird & Bird in Australia.
The UK outfit declined to comment on the possibility of a near term merger, except to say the relationship had been going "from strength to strength".
It added that when the cooperation deal was announced last March, it had made clear its intentions to extend to a full union within the next 12 months.
Bird & Bird is among a small group of firms to have chosen an alliance-first strategy in Asia, with others including Berwin Leighton Paisner (BLP) and magic circle firm Linklaters.
In February this year Bird & Bird announced a tie up with Seoul based Hwang Mok Park in South Korea, which it also said would likely develop to become a formal merger in the next two to three years.
In an earlier interview with Legal Week, China chairman Justin Walkey, who relocated to Hong Kong in October 2012 to help the firm pursue its regional expansion strategy, said the initial non-exclusive co-operation agreements were a less risky way of allowing the firm to enter new markets.
As well as allowing partners to test joint working arrangements, he said the tie-ups also gave Bird & Bird a string of local connections in its chosen geographies.
In Australia, Truman Hoyle was selected for its long relationship with the UK firm not to mention its specialisation in telecoms, technology, media and ecommerce – all areas where Bird & Bird has a strong reputation.
Together the two outfits have focused on joint marketing initiatives and growth while also considering an opening in Australia's IP hub Melbourne, though no details have been formerly announced.
However, not everyone is a fan of the merger option. One partner from Truman Hoyle said he didn't understand the rationalisation behind it given the small amount of referrals and occasional client conflicts.
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