BLG chief exec: Clydes deal is no rescue merger

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  • Destroy the competition, I somehow think not. The conflicts will generate a lot of work for other practices in the area and cost-conscious insurance clients will be wary of hiring a "top 10" practice, as they know they will be gouged on fees. Truth is Barlows need this "merger" and their cocky young management is about to get its come-uppance.

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  • "Destroy the competition"? 25% share of supply test triggered?

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  • I disagree with you rival insurance practice @0956.
    For the EC3 firms this deal, if successful, will remove a major competitor for the market in a sector which is already being squeezed by falling fees.
    There will no doubt be plenty of fallout through conflicts and this will present opportunities for rival firms looking for new teams to help them get into the market.
    The insurance sector has for too long be dominated by the sames firms, this should give everyone a shock

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  • In light of the consolidation of the market which is going on it’s probably a good defensive move, but it’s a real shame considering where BLG could have taken the business.
    I question whether having a litigation and insurance boutique is the right way forward. The right strategy would have been to build up a stronger commercial and corporate side because it’s so integral to the way their clients are doing business.
    Both firms have a certain level of work but if you want to do well you have to be going for those high progile City transactions.
    Nobody goes to BLG for any serious insurance merger because they have not got the resources, and they probably would not go to Clydes either.
    Will there be enough litigation to ensure the survival of a merged £300m firm? Maybe not.

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  • BLG could have and should have gone for the US merger, this just looks like a firesale now

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  • They’ve got to bridge that PEP gap, either by making BLG people salaried, or getting rid of them. Because it’s a takeover Clydes would be in a position to sort that out. For Clydes to take out one of their main competitors, get their hands on the professional liability practice and a strong bulk practice, opportunities like that don’t come around very often.

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  • My money would have been on BLG merging with a US firm. You need international offices in order to attract the work, that is one of the attractions of Holman Fenwick. For BLG, too many exits, too few international offices and low rates mean there is nowhere else to go.
    All credit to David Jabbari. If this goes ahead it will be a major coup for the firm and will create a new force in the law.

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  • Wonder who'll be senior partner.....
    Surely this must be Michael's last toot at the trumpet?

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  • David Jabbari's spin never ceases to amaze me.
    Everyone connected with BLG saw the writing on the wall ages ago, and this is emphatic confirmation that the end is nigh. For "pursuing growth strategy" read "salvage from the wreckage of a failed firm".

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  • I'm sure other firms will already be circling for possible hires. Bet BLG's standout practices will be high on the list!

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