Maclay Murray & Spens and Bond Pearce fall out of love. Again.
16 March 2012
Scottish firm Maclay Murray & Spens and Bristol's Bond Pearce
have ended merger discussions after months of talks. And it's not the first time they've tried as mid-market firms continue to scrabble around for merger partners.
Financially, the two firms are remarkably alike as they share identical PEP and very similar turnover. And both have an office in London. Yet embarrassingly, it's the second time that discussions have failed. The firms had a crack at a merger a couple of years ago, but entirely failed to get beyond first base, stopping short of asking partners to vote for the tie-up.
||Will there be a happy ending for Maclay Murray & Spens and Bond Pearce?|
The collapse is just another log on the fire of failed mergers. Just over a month ago, it was revealed that DWF and Cobbetts would be shelving merging plans (despite, in a moment of breathless excitement, having registered the website dwfcobbetts.com). And who could forget the bitterness provoked when Herbert Smith
was turned down by its best friends
on the continent, Gleiss Lutz and Stibbe, and immediately pulled out of its whole European alliance? Then there was Dundas & Wilson's overture to Bircham Dyson Bell
, a move so wrongheaded that it led to the firm's Chairman "welcoming
" the resignation of Dundas' managing partner last week. At least the tie-up of McGrigors and Pinsent Masons
seems to be heading for a successful conclusion. But with the 1st May launch date still some weeks away, anything could still happen.
A spokeswoman for Bond Pearce said "We’re growing organically along with exploring various options including merger and acquisition in order to support our strategy
She added that the firm was not "currently in formal discussions
with anyone about a merger. And MMS similarly confirmed that the firm was not "currently
in merger discussions. So maybe it'll be third time lucky.