Law firm mergers continue upward climb in 2015; Dentons accounts for eight of them
Image from Shutterstock.
Ninety-one law firm mergers were reported in 2015, the highest amount in the nine years that Altman Weil has been keeping track of the combinations.
The mergers are part of a strategy to acquire new business at a time of flat demand, Altman Weil principal Ward Bower said in a press release.
“The record number of deals in 2015 is a reflection of the intense competition among law firms for new work, and we expect the market to remain hot in 2016,” Bower said. The Am Law Daily (sub. req.) and the New York Times DealBook blog have stories.
The merger numbers surpassed the previous high of 88 in 2013.
Dentons announced eight combinations in 2015, including the largest ever law-firm merger with Chinese law firm Dacheng. The firm is “charting new territory with the degree and speed of their expansion,” Bower said in the press release. “The marketplace will be watching with interest to see what comes next.”
Related article:
ABA Journal: “The Rise of the Megafirm”
