Merger Talks to Create 800-Lawyer Law Firm Are Confirmed
Posted Aug 12, 2011 6:18 AM CDT
By Debra Cassens Weiss
Baker & Daniels and Faegre & Benson are discussing a merger.
Thomas Froehle Jr., chair and chief executive partner at Baker & Daniels based in Indianapolis, confirmed the merger talks, the Am Law Daily reports. The combined law firms would have 750 to 800 lawyers and 13 offices.
Faegre, the larger firm, is based in Minneapolis. It has 446 lawyers. Last year, its gross revenues dropped nearly 10 percent while profits per partner jumped 5 percent. Gross revenues at Baker & Daniels increased nearly 6 percent, while profits per partner increased 2 percent.
The proposed merger could be put to a partnership vote in October. Froehle told the Am Law Daily that the firms see synergies in their corporate, intellectual property, and life sciences practice groups.