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Mayer, Brown Seals Largest U.K. Merger
M ayer, Brown & Platt has acquired 250-lawyer London firm Rowe & Maw in the largest American acquisition of a U.K. law firm to date.$670M Biotech Buy May Be Biggest of Its Kind
A big biotech acquisition is a larger private financing deal than any of the attorneys involved can remember in that hot tech sector.World's Largest Law Firm Experiencing 'Growing Pains'
By the numbers, Clifford Chance offers a powerful vision of the legal profession's globalized future. The world's largest law firm, with almost 3,400 lawyers straddling the globe from Barcelona to Bangkok, it is also one of the busiest. But a string of high-profile departures suggest the London-based firm's global vision is having trouble gaining adherents, particularly in the United States, where the firm first expanded in 1999 with its blockbuster merger with New York's Rogers & Wells.England Poised to Reform Legal Market
Picture lawyers idling away potentially billable hours tracking their firm's stock price rather than poring over their firm's PPP rankings or the results of the latest associate-satisfaction survey rankings. Sound far-fetched? It may happen soon in England if a draft bill that would allow outside investment in law firms and let firms go public makes it into law. And although the bill hasn't yet been the focus of too much hand-wringing in the United States, it is "on the radar screen," says one consultant.Law Firm Downsizing: Who's Next?
With plenty of lawyers but relatively low partner profits, Mayer, Brown, Rowe & Maw found itself earlier this month in the uncomfortable position of having to downsize its equity partner ranks in what it said was a push to stay competitive in the war for talent. But a look at other big law firms shows that many are in the same situation as the Chicago firm, raising questions about whether they, too, will want to do some significant trimming at the top.Magic Circle Firms on Pace to Become Among World's Most Profitable
Six months into their current financial year, the United Kingdom's largest firms are continuing an impressive growth spurt. Two Magic Circle firms report that they're on pace to reach or exceed the $2 billion mark for the year; three have confirmed increases of 15 percent to 20 percent over the same period last year. Banks may be facing dramatic losses thanks to the credit crunch, but U.K. law firms continue to enjoy economic conditions that have seen them enjoy huge growth in revenues and profits.Trending Stories
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