Hammonds to seal transatlantic merger with Squire Sanders

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  • Is this a wind up?

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  • Great move by Hammonds.

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  • Hammonds - how have you pulled this off! You do realise the yanks will eventually kick all the legacy London partners out and replace with utter tripe before packing the bags and buggering off!

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  • From an outsider's point of view this looks like a great deal that makes sense for both firms. They both get what they want. The only negative thing is the tedious carping that such deals inevitably generate from partners at rival firms.

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  • The minute Squire Sanders do their DD they will run for the hills. This is a sick firm in terminal decline.

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  • As an international firm it is going to struggle and the project smells of hubris and over-reaching on all sides. It will have lots of offices scattered across the planet with a small number of people sitting in each one of them outside of the larger offices in the UK and US. If you aspire to offer substantive global legal advice to a sophisticated multinational then you need to match that with the people on the ground. With combined revenues of barely £500m, this proposed firm is not going to have the scale and depth of capital and resources to compete. With a $200k difference in PEP and a 2:1 disparity in revenues between Hammonds and Squire Sanders a partner in Birmingham is going to be seriously questioning why this is the sensible thing to do.

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  • Stand up if you would rather merge with Halliwells! Oh no too late for that. Might just resign instead!

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  • What else could Hammonds do anyway? This isn't a good deal particularly but at it buys them a bit of time and Squire Sanders won't bother trying to sort out Birmingham or Leeds as it's too much hassle immediately. Well done Peter Crossley for making the most of a bad hand.

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  • Not a merger. It's SSD buying a UK firm a third of its size. Although the synergies on the Tallahassee-Dominican Republic-Leeds axis are of course not to be sniffed at.

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  • @ Anonymous (26-Aug-2010 11:17) - Of course the combined firm will still be sub-scale in the medium term, but that is hardly an argument against a merger.
    We are rapidly heading towards global law firms of the scale of the big accountancy firms, with $25 billion revenues.
    The firms which face the bleakest future are those which, for cultural and other reasons, are seemingly incapable of merging, such as Macfarlanes and Travers Smith.

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