SNR Denton Reportedly Set to Vote on Three-Way Merger
Posted Nov 7, 2012 9:54 AM CDT
By Debra Cassens Weiss
Partners at SNR Denton are reportedly set to vote at the end of this month on a three-way merger with Salans and Fraser Milner Casgrain.
The merger will take place in January 2013 if it is approved, report Legal Week and the Lawyer. None of the firms have confirmed the reports, though a Salans spokeswoman spoke generally of the firm's open-minded approach to strategic growth opportunities.
SNR Denton global chief executive Elliott Portnoy will lead the combined firm, which will be structured as a Swiss verein, according to the Lawyer. The verein structure allows firms to merge without integrating financially.
Salans is an international law firm with more than 750 lawyers, while Fraser Milner Casgrain is a Canadian law firm with more than 500 lawyers, according to their websites. SNR Denton was formed as a result of a merger between Sonnenschein Nath & Rosenthal and Denton Wilde Sapte; it has about 500 partners, Legal Week says.
The Lawyer reports some discontent among Salans partners who question the costs of the deal and the benefits of a merger in which profits are not shared.