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International Edition

Hammonds and Squire Sanders - a no-fuss crack at the global mid-market

Unsung it may have been, but a deal to unite Hammonds and Squire Sanders & Dempsey has now arrived, less than three months after news of the talks was announced. With the tie-up set to go live on 1 January 2011, the question is not whether it can live up to expectations - rivals have not been kind - but whether the deal can deliver on its own terms. On that basis, the logic of the tie-up is understandable, with partners seeing a neatly-fitting global network as a key benefit. Squire Sanders will gain a sizeable London presence and some coverage across Western Europe in Paris, Madrid and Italy while also benefiting from a beefed-up presence in Brussels and a Berlin office to complement its Frankfurt base.
4 minute read

International Edition

Clydes signs up Hill Dicks partner with eye on Asian expansion

Clyde & Co has expanded its corporate insurance team with the hire of Hill Dickinson partner William Tsang earlier this month. Tsang has joined as a partner in Clydes' City corporate insurance practice, however he is expected to relocate to Clydes' Hong Kong arm early next year as the firm bids to expand its corporate insurance practice in Asia.
2 minute read

International Edition

...then we take Manhattan - strategic shifts and calculated bets at Norton Rose

Back in June 2009, in the wake of news that Norton Rose was set to take over mid-tier Australian firm Deacons, Legal Week noted the wall of negativity that greeted the City stalwart's trip down under. Gauging the feedback following Norton Rose's dual takeover of Canada's Ogilvy Renault and leading South African practice Deneys Reitz reveals an interesting shift - while there is plenty of sniping, there is now more grudging admiration and some of the doubters seem to be rather going through the motions.
3 minute read

International Edition

SJ Berwin and Proskauer Rose call off long-running merger talks

SJ Berwin and Proskauer Rose have called off their transatlantic merger talks after nine months of protracted discussions. The two firms issued a statement earlier this afternoon confirming that the talks had ended yesterday (11 November). In a joint statement, the firms said: "At this stage in our discussions we recognised that the timetable necessary to reach the agreements that would ensure the successful integration of our firms is not workable at this time. "Accordingly, and with considerable regret, we have mutually determined to halt our talks. We look forward to continued cooperation between our firms for the benefit of our clients."
4 minute read

International Edition

When the music's over – SJ Berwin goes home alone

"The talks [between SJ Berwin and Proskauer Rose] remain at a relatively early stage but with the UK firm's strategy becoming increasingly public, neither party is expected to needlessly draw the process out." That line from a blog in May certainly isn't going to go down as one of my more astute predictions because, of course, the pair did go on to draw the process out, before today (12 November) announcing the end of the protracted merger discussions.
4 minute read

International Edition

Dealmaker: Dean Poster

Mishcon de Reya corporate partner Dean Poster on his loveable banking contacts and why no-one likes a smart arse...
4 minute read

International Edition

Canadian firms seal merger deal to create new 400-lawyer firm

Two of Canada's largest law firms have agreed to merge, forming a 400-lawyer firm with offices in five Canadian cities and Hong Kong, reports The Am Law Daily. The merger between McMillan and Lang Michener, which will be effective as of 1 January 2011, will see the newly-combined firm keep the McMillan name. The firm will be headed up by current McMillan CEO Andrew Kent.
2 minute read

International Edition

Squire Sanders Hammonds to kick off post-merger review of partner pay

Hammonds and Squire Sanders & Dempsey are set to start integrating their practices and partner pay after securing the vote of more than 95% of their combined partnerships to launch as Squire Sanders Hammonds in the new year. The decision means Hammonds partners will be remunerated entirely on merit by 2013, in keeping with Squire Sanders' existing practice. The move to a fully merit-based system at Squire Sanders Hammonds will begin to be phased in from 2012.
3 minute read

International Edition

SJ Berwin partners press for resolution to Proskauer merger bid

SJ Berwin's partners are putting pressure on management to draw transatlantic merger discussions with Proskauer Rose to a close, as the protracted discussions unsettle the partnership. Partners at the UK top 20 law firm have expressed concern that no agreement has been reached despite the talks having been public for nine months.
2 minute read

International Edition

Herbert Smith and SJB lead on £448m sale of Crown Estate London portfolio

Herbert Smith and SJ Berwin have won lead roles as Norway's Norges Bank Investment Management agrees to buy a 25% stake in the Queen's Regent Street property portfolio for almost half a billion pounds. The deal is expected to see Norges, which manages the Norwegian Government Pension Fund Global, pay £448m to buy the 150-year lease on the property portfolio from The Crown Estate. It marks the fund's first investment in real estate since the Norwegian Government gave permission to invest in the class on 1 March.
2 minute read

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