Bloomberg BNA write…”The last time we saw a three-way mega-merger in Big Law, the world’s largest law firm, Dentons, was formed.”
The report then details what they’ve gleaned from all the hot gossip running around the firms and legal media in London & NYC
They write…..
Are we about to see another?
Citing “partners close to the discussions,” Ann Ward of LegalWeek reports that CMS, Olswang and Nabarro are in talks, and that voting on the possible deal is expected to occur tomorrow, Sept. 30.
• CMS is a London-based law firm with 17 offices in Europe, the Middle East, North America and Asia.
• Olswang is also London-based and has offices in Reading, Brussels, Madrid, Paris, Singapore and Munich.
• Nabarro, meanwhile, is an international law firm with offices in London, Brussels, Dubai, Manchester, Sheffield and Singapore.
The combined entity would have more than 3,000 lawyers, according to a tally of figures on their websites.
Requests for comment placed with the firms were not immediately returned.
CMS posted about $1.2 billion dollars in revenue in 2015, up 8.4 percent and Nabarro posted about $169 million revenue, up 3.5 percent. Olswang fell 10. 8 percent to about $146.4 million. Combined the firm would have more than $1.5 billion in revenue, which would put it about 13th on AmLaw 100 rankings.
Chatter between Olswang and CMS emerged over the summer.
Via LegalWeek:
Olswang has been in the market for a merger for some time, with news of its talks about a combination with CMS UK breaking over the summer. The firm is first understood to have approached CMS about a potential merger in 2014 under former CEO David Stewart and has since been linked with numerous firms.
