Mergers Up 33% as Well-Funded Law Firms Look for 'Tasty Morsels'
Law firm mergers are up 33 percent in the first quarter of 2009, compared to the same period last year, a legal consulting firm says.
But many of the 24 acquisitions completed so far in 2009 (there were 18 in the first quarter of 2008) actually got started last year, points out Altman Weil Inc. principal Tom Clay. He expects that merger mania may now slow down a bit, due to the dismal economy, according to the Baltimore Business Journal.
But it won’t by any means stop, he predicts.
“Well-capitalized firms with clear strategic goals are continuing to look for tasty morsels to acquire” Clay tells the publication. “There’s no reason to think that will change.”
Additional coverage:
National Law Journal: “A Busy First Quarter for Law Firm Mergers”
Updated at 11:30 a.m. on April 8 to include link to subsequent National Law Journal article.
