Pepper Hamilton and Reed Smith’s merger discussions, though still in the early stages, were moving along in a positive direction until, for reasons that remain unclear, they hit an abrupt speed bump the afternoon of April 22, sources familiar with the talks said.
In a rare move for a firm looking to end talks of a combination, Pepper Hamilton issued its own statement rather than a joint announcement. The firm made clear the afternoon of April 22 that it was Reed Smith that reached out to Pepper Hamilton and that it was Pepper Hamilton that was ending the discussions with an eye toward staying true to its strategy and culture.
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