Law Firms
Client Conflict Snags Akerman-WolfBlock Merger
Posted Aug 8, 2008, 04:44 am CST
By Molly McDonough
An undisclosed client conflict is delaying the proposed marriage of the mid-Atlantic's WolfBlock to Florida's Akerman Senterfitt.
The firms, which combined would be 800 lawyers strong, released a joint statement this week confirming merger talks, but noting that a client conflict needs to be hammered out.
“While it continues to be the policy of both firms not to comment on rumors, under the circumstances of information finding its way into the media, the firms wanted to ensure that there were no misperceptions of reality,” the statement notes. "The chairmen acknowledged that there are issues under continued discussion in this process and that among them is a client conflict that cannot be discussed publicly because of client confidentiality."
Brad Hildebrandt of Hildebrandt International, who is advising WolfBlock on the deal, tells the Legal Intelligencer that such conflicts are natural as firm mergers move forward.
"You don't want to tackle a conflict until you are pretty close to a transaction," Hildebrandt is quoted saying. The vote to merge was deferred until the conflict is worked out, he reportedly added.
Earlier:
ABAJournal.com: "WolfBlock & Akerman Senterfitt to Form 800-Lawyer Firm"
ABAJournal.com: "Akerman to Merge With WolfBlock?"