With its formalization of the merger with Australia’s DLA Phillips Fox? DLA Piper said it will add about 600 lawyers to create the world?s largest law firm with more than 4,000 attorneys.
?The Asia Pacific region is expected to continue to be dominant,? in global takeovers this year, Alastair Da Costa, Chicago-based DLA Piper?s Asia Pacific managing director, said in an interview. The merger is subject to partnership votes and is targeted to take effect May 1.
Here’e the introduction to a report by Bloomberg
Mergers and acquisitions in Australia more than doubled to $108.5 billion last year including Arrow Energy Ltd.?s takeover by Royal Dutch Shell Plc and PetroChina Co. and an $8.4 billion offer from Singapore Exchange Ltd. for Australia?s ASX Ltd. Australian and international law firms are tying up to compete for that business and to serve the Asia-Pacific region.
?M&A is the big driver,? in luring foreign firms to Australia, said Robert Milliner, chief executive partner at Sydney-based Mallesons Stephen Jaques. Mallesons was the top- ranked legal adviser on Australian mergers and had considered a tie-up with London?s Clifford Chance LLP before the 2008 global recession scuttled the plans.
The two firms aren?t in discussions, Milliner said in an interview, adding that Mallesons always assesses opportunities.