Norton Rose Fulbright targets US merger with Chadbourne & Parke
The pair confirm they are in discussions about a 'possible combination'
February 02, 2017 at 08:45 AM
3 minute read
Norton Rose Fulbright is in merger discussions with US firm Chadbourne & Parke.
Chadbourne has global revenue of $249m (£198m) while Norton Rose Fulbright's revenue is $1.74bn (£1.38bn), according to The Am Law financial rankings.
The two firms confirmed the merger discussions late on Thursday (2 February).
Norton Rose chief executive Peter Martyr and US managing partner Daryl Lansdale said in a joint statement: "Norton Rose Fulbright can confirm discussions with Chadbourne & Parke regarding a possible combination. We believe that the combination would provide an even stronger global platform for our clients, who would also benefit from our compatibility in both practice and industry focus. We will make no further comment on this matter until discussions with our partnership have concluded."
A Chadbourne spokesperson added: "A prospective union with Norton Rose Fulbright has the potential to enhance our capabilities and add tremendous value for the clients of both firms, but there are still a number of considerations left in this process and it is premature to discuss these in any detail. We hope to have something to report on this soon."
The pair have been in close merger discussions for at least several weeks, according to sources close to both firms.
New York-based Chadbourne's struggling position in the market and shrinking size, while Norton Rose's attraction to Chadbourne's project finance group, often called its crown jewel, were cited as considerations behind the discussions.
The firms happen to share the same office building in New York at 1301 Sixth Ave, where Chadbourne signed a 20-year lease in 2012 and moved into space vacated by failed firm Dewey & LeBoeuf.
Norton Rose has been through a succession of major mergers. It merged with Australian firm Deacons in 2010, then in 2011 with Canadian firm Ogilvy Renault and leading South African firm Deneys Reitz. These were followed by a second Canadian merger with Calgary's Macleod Dixon in 2012, while legacy Norton Rose's union with US firm Fulbright & Jaworski went live in summer 2013. More recently, it inked a deal with Vancouver-based firm Bull Housser & Tupper last month.
In November, it was widely reported the firm held merger talks with with Australia's Henry Davis York.
The firms did not immediately respond to messages seeking comment.
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