Cobbetts and DWF confirm merger talks
Management at Manchester’s Cobbetts and North West firm DWF have officially confirmed that they are in merger discussions, although they stopped short of giving any further details.
Andrew Leaitherland
As revealed by The Lawyer earlier this month the two firms are understood to be close to finalising a merger that could go ahead as early as May (9 January 2012).
At that time DWF managing partner Andrew Leaitherland declined to comment while Cobbetts managing partner Michael Shaw, who is not expected to remain at a merged firm, was not available for comment.
Today, Leaitherland released a statement that read: “DWF is one of the fastest growing law firms in the UK; we’ve achieved double digit growth year-on-year for the past 18 years and top 30 status is well within our reach.
“Lateral hires and strategic mergers are a key part of our growth strategy and it’s entirely consistent with this strategy that we should be in talks with any number of different parties to discuss the potential for a mutually beneficial strategic partnership.
“I can confirm that preliminary discussions with Cobbetts have taken place, but until any such discussions are brought to a conclusion we will not be in a position to talk about them publicly.”
In a similar statement, Cobbetts senior partner Stephen Benson said: “Cobbetts is a leading law firm with a national and international practice. We continually seek to develop our business in a dynamic market, through strategic alliances and lateral hires as well as seeking partnership opportunities which would provide benefits to our clients and the business as a whole.
“As a matter of policy, we don’t comment on any such developments until a conclusion is reached.
“I can confirm that we’re in early discussions with DWF, but with respect to all parties involved, we will not make any public comment unless they reach a conclusion.”
For an analysis of the benefits of the potential merger, click here.
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Readers' comments (13)
Anonymous | 18-Jan-2012 3:01 pm
OMG
*drops cup*
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Anonymoose | 18-Jan-2012 3:20 pm
Gosh, that's awfully nice of them to confirm the talks taking place, and even more nice to find out about it via the Lawyer. Again.
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Anonymous | 18-Jan-2012 3:49 pm
Who said rescue deal? That's just not fair...
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Anon | 18-Jan-2012 4:00 pm
We are rapidly heading towards there being just a handful of £1 billion + turnover (UK generated) law firms dominating the domestic legal services market in the UK.
There will be many more mergers like this over the next 10 years.
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Anonymous | 18-Jan-2012 7:43 pm
Presume discussions can't be concluded with DWF (& staff kept informed) because there is a frantic scramble behind the scenes as Cobbetts fragments. You have to know where you are going if an announcement is to be made as to where you are jumping ship to. As other major firms in the locality have already been approached by partners at Cobbetts in the last few years years, suspect their number will receive those calls again if that hasn't already happened.
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Anonymous | 18-Jan-2012 7:49 pm
Somthing really funny happened at work today! oh no actually somthing dreadful, senior managment had the audacity to send an email to staff stating that they had probably noticed somthing afoot in the press!! well darn just imagine our surprise it turns out they knew we knew all along I thought it was a secret and we knew but they didn't know we knew! Great leaders are great communicators not people surrounded by suck ups telling them they are doing everything they could be and some people will just never be happy. what utter tosh you know who you are you are rude, arrogant and not a born leader and the mighty fall a great way down.
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Anonymous | 19-Jan-2012 12:24 pm
Being a great lawyer doesn't necessarily make you a great leader, decision maker or businessman/woman. The nature of Partnership can create a few mighty egos which may lead to shocking errors of judgement.
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Anonymous | 19-Jan-2012 1:39 pm
This is shocking. Let's hope the vitriol evident here is not replicated across the board or both parties have really got their work cut out.
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Anonymous | 20-Jan-2012 12:26 pm
DWF should be proud that so many jealous lawyers are taking pot shots at them.
They're clearly doing well. They've rocketed up the UK rankings when other firms have faltered.
As for the lack of communication, given that your M&A lawyers routinely advise clients not to inform staff until the deal is completed, why are you complaining?
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Anonymous | 20-Jan-2012 7:30 pm
A firm is only as good as the Clients view it to be. DWF are like dogs on heat as old fashioned values..... and ethics...... and duty of care ........are by-passed in their unremitting pursuance of expansion and profits.....
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