Eurotrash firm Salans and many-headed beast SNR Denton appear to be finalising a merger deal, as merger mania continues to sweep the profession.
The two firms' partners are rumoured to be preparing to vote yea or nay in September on the long-awaited merger, the Lawyer has revealed. And so the rumour mill - including the RollOnFriday discussion board - has burst into life.
While the merger has been discussed since 2011, SNR Denton is itself a fairly recent invention, having sprung from the loins of Sonnenschein and Denton Wilde Sapte in 2010. But it's not been a totally happy honeymoon period, with the firm having faced a slump in profits and the loss of some key partners. So who knows what will happen if another merger goes through (or whether there are actually any partners left to flee)?
Salans is relatively unknown in the UK, although it enjoys a far stronger reputation in France. So with SNRD big in London and key US financial centres (like, errr, Walnut Creek) and Salans strong in continental Europe, the concept is just about understandable. However SNRD said "we never comment on rumours about specific discussions", whilst Salans refused to say anything at all, so it is not yet clear whether the deal will actually come to fruition.
But if the merger does go through, the new firm will need a name, and RollOnFriday is open to suggestions - send in your idea here. The best wins an all-expenses-paid postcard of Walnut Creek.
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The two firms' partners are rumoured to be preparing to vote yea or nay in September on the long-awaited merger, the Lawyer has revealed. And so the rumour mill - including the RollOnFriday discussion board - has burst into life.
While the merger has been discussed since 2011, SNR Denton is itself a fairly recent invention, having sprung from the loins of Sonnenschein and Denton Wilde Sapte in 2010. But it's not been a totally happy honeymoon period, with the firm having faced a slump in profits and the loss of some key partners. So who knows what will happen if another merger goes through (or whether there are actually any partners left to flee)?
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This way for the profession's next exciting merger. |
Salans is relatively unknown in the UK, although it enjoys a far stronger reputation in France. So with SNRD big in London and key US financial centres (like, errr, Walnut Creek) and Salans strong in continental Europe, the concept is just about understandable. However SNRD said "we never comment on rumours about specific discussions", whilst Salans refused to say anything at all, so it is not yet clear whether the deal will actually come to fruition.
But if the merger does go through, the new firm will need a name, and RollOnFriday is open to suggestions - send in your idea here. The best wins an all-expenses-paid postcard of Walnut Creek.
Comments
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If the legacy firms concentrate on building their core businesses and share the success from it, it could be a very successful venture.
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Clueless PR posts on RoF in 2012.
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Anonymous on 24/8 @0030 used this phrase.
The competition in these cities, let alone regions, is just as fierce as in London and the US cities covered by SNRD.
You can have offices in many places but it's what they do and what clients they have that counts - just ask Coudert and Dewey and Frere C. On the contrary, look at Slaughters and their ilk in New York.
Commercial consumers of very expensive legal services are very sophisticated and if what you offer is not as good and the competition, the consumers will go to the competition.
I wish Salans and SNRD good luck but size and geographical spread will be nothing like enough.