BigLaw firms approve 'merger of equals,' creating Faegre Drinker
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Faegre Baker Daniels and Drinker Biddle & Reath have agreed to merge, creating a new law firm to be called Faegre Drinker Biddle & Reath.
The merger, set to take place Feb. 1, will create one of the nation’s top law firms based on size and projected gross revenue of nearly $1 billion, according to a Dec. 17 press release.
The combined firm will have more than 1,300 lawyers and consultants with offices in 22 U.S. cities, as well as London, Beijing and Shanghai, according to a Faegre Drinker fact sheet. The firms will combine offices in Chicago, Los Angeles and Washington, D.C.
The combined firm will be co-chaired by Drinker Biddle chairman and CEO Andy Kassner and Faegre Baker Daniels chair and managing partner Tom Froehle.
Kassner told Law.com that the combination “is a merger of equals from top to bottom.” Faegre had gross revenue of $512.9 million last year compared to $449.7 million for Drinker. Faegre has more than 600 lawyers, and Drinker has more than 500 lawyers.
The law firms also have compatible cultures, the leaders say.
Both firms believe in serving clients, “and frankly, practicing with excellence and not arrogance,” Kassner told Bloomberg Law. “In the end, culture wins every day and on Sundays.”