THESE ARE lean times for mergers-and-acquisitions specialists. According to the most recent statistics from Thomson Financial, worldwide M & A activity has fallen to its lowest volume since 1995. Sidelined investment bankers and M & A lawyers are now spending quality time with their families, scrambling for other work or just wondering where the big deals and boom times went.

But for those M & A specialists whose specialty is combining law firms with one another, the boom times have only just begun.

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