The law firm merger market cooled significantly during the second quarter of 2009, according to reports by a number of legal consultants. Hildebrandt International’s latest MergerWatch found that nine U.S. law firms completed mergers and acquisitions during the quarter, compared to 33 during the first quarter. Similarly, Altman Weil’s most recent MergerLine reported that mergers fell from 25 in the first quarter to seven during the second quarter, a 72 percent decrease.
The tepid merger landscape heated up a little earlier this month when Bingham McCutchen announced it will acquire New York’s McKee Nelson, but that combination will be counted during the third quarter. Bingham’s acquisition is the only sizable U.S. law firm merger or acquisition within the past 3 1/2 months—the mergers and acquisitions that transpired during the second quarter were relatively small.
This content has been archived.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
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
