Recent law firm acquisitions that fall short of full-scale mergers are an example of the creativity industry consultants expect to see more of when it comes to minimizing the risk of expansion efforts. When Morgan, Lewis & Bockius took on more than 500 lawyers from ailing Bingham McCutchen, it acquired some of the liabilities too, while leaving the shell of Bingham, and a chunk of its lawyers, behind. And Feb. 11′s announcement that Blank Rome acquired nearly all of the remaining lawyers of Dickstein Shapiro was accompanied by word that Blank Rome would get the assets of Dickstein Shapiro while seemingly avoiding any substantial liabilities. Bingham and Dickstein Shapiro were left to wind down their own affairs.
“What this is reflective of,” Altman Weil consultant Ward Bower said, “is we are going to see more and more creative means of putting together combinations of firms going forward.”
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