Bar News - March 13, 2009
Seventy Law Firm Mergers Announced During 2008
Of the 70 combinations announced, the majority were regional deals, including: 31 percent in the South, 19 percent in the Middle-Atlantic region, 17 percent in the Mid-West, nine percent in the western US, and three percent in New England. Another 19 percent were multi-regional deals – two thirds of which involved southern firms. An additional three percent were cross-border combinations.
Although the pace of deals slowed in the third and fourth quarters, the total number of mergers was up by 17 percent from the 60 reported in 2007.
"Forty-four percent of all 2008 mergers, both large and small, involved at least one southern law firm," according to Altman Weil principal Tom Clay.
Two Mid-western mergers also stood out in 2008, but combinations involving firms in the western US were down significantly from 2007.
The complete list of law firm mergers and acquisitions is available online at www.altmanweil.com/MergerLine.