Pepper Hamilton and Reed Smith call a halt to merger talks
Pepper Hamilton and Reed Smith have ended their discussion of a possible merger.
Both firms issued written statements Friday confirming that their talks have concluded, but putting a slightly different spin on how the decision was made, according to the Legal Intellligencer (sub. req.) and the Pittsburgh Post-Gazette.
“Today, Pepper Hamilton decided to end our discussions with Reed Smith,” says the statement from the Philadelphia-based firm, which has an attorney roster roughly one-third the size of Reed Smith’s 1,900 lawyers. “While we were intrigued when Reed Smith approached us, we determined that moving forward is not in the best interest of Pepper. Pepper prides itself on talented people providing premier legal services to our clients. These core Pepper values are what we do best, and it is why our firm is held in such high regard by our clients and the entire legal community.”
In Reed Smith’s statement, the decision is characterized as mutual: “While our conversations with Pepper Hamilton were positive and informative, both firms have concluded that for a variety of reasons those discussions should end,” says the firm, which has grown from its Pittsburgh roots to establish more than two dozen offices worldwide.