DWF and Cobbetts have confirmed that their merger talks have ended.
The flirtation between the firms was revealed by RollOnFriday last November, after the URL www.dwfcobbetts was registered. Talks continued, and only two weeks ago it looked like it was a done deal (albeit one that would leave out a bunch of unhappy Cobbetts' partners). But it has ended in tears.
In a joint statement the firms said that discussions had been wound up "due to the current uncertainty in market conditions". Had it gone ahead, the new firm would have had 1,800 staff and a combined turnover of £130m.
Partners now have to go back to the drawing board, having spent several months with their eyes off the ball as they focussed on trying to get the deal through. Mergers between firms may currently be fashionable, but that's not to say they've got any easier.
Tip Off ROF
The flirtation between the firms was revealed by RollOnFriday last November, after the URL www.dwfcobbetts was registered. Talks continued, and only two weeks ago it looked like it was a done deal (albeit one that would leave out a bunch of unhappy Cobbetts' partners). But it has ended in tears.
In a joint statement the firms said that discussions had been wound up "due to the current uncertainty in market conditions". Had it gone ahead, the new firm would have had 1,800 staff and a combined turnover of £130m.
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Not a fairytale ending |
Partners now have to go back to the drawing board, having spent several months with their eyes off the ball as they focussed on trying to get the deal through. Mergers between firms may currently be fashionable, but that's not to say they've got any easier.
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