Categories:Private Client

Dawsons and Penningtons set for imminent merger

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  • If the two business merges what happens to the pending claims against both firms (if not settled). Was it not reported recently that Dawsons is being sued by a former consultant to its employment department?

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  • @ Anonymous 3.27pm
    The costs aspect will be a tricky one all the same. If Dawsons as a whole came over, then that would be a lot of staff added into Pennington's payroll/office space. Associates too would be a challenge too. The other issue is leverage levels. Dawsons seems to be rather tight on the equity - hence the high PEP (for its size) - when integrated into the larger Penningtons - which appears to be slightly (but only a little) more democratic, will this work? Would Dawsons partners then no longer appear to be so profitable? This deal could work - but it could also go very wrong, Also, if a few more client-holding Dawsons partners walk, Penningtons coud just inherit Dawson's costs and staff (and law suits) and little else.
    Think before you merge guys.

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  • Anonymous @ 3.13pm is right. All too often one reads cynical comments that flatter the sender by making them appear wise and all-knowing. Witness some of the comments made when Halliwells imploded. Why delight in failure? People's jobs and careers are at stake here. Combining the two firms may well be better than carrying on apart. There will be economies of scale and, who knows, the effect of combining may give them fresh energy. To succeed doesn't necessarily mean you have to be a "star". There are plenty of solid, dependable firms out there doing good work and making decent returns.

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  • As my character Max so wittily observed in the opening credits of Hart to Hart: "And when they met, it was merger!"

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  • "Merge, baby, merge!"

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  • @ Sarah Palin: "merge baby merge - Dawsons inferno!"

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  • If Dawsons joins, will all jobs at Penningtons be put at risk? Surely cost savings will be made but then will anyone care?

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  • What about trainees for this year and next, will they have to repay their fees etc??? Is there Law Society guidance telling them what happens, will their contracts continue with the new firm?

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  • "But then open in Anchorage, baby, open in Anchorage!" (Lots of interesting private client work, you know...)

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  • I presume that Penningtons will have done a rigourous due diligence exercise before signing off on this one.

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