DWF and Cobbetts have called off merger discussions, blaming “uncertain market conditions”.
In a joint statement, the firms said: “The preliminary discussions between DWF and Cobbetts regarding a potential merger have now come to a conclusion and we have made the decision not to progress these talks any further due to the current uncertainty in market conditions.
“Growth by merger and lateral hires continues to be an option for both firms but until any discussions are brought to a conclusion, we will not be in a position to talk about them publicly.”
The two firms confirmed that they were in merger talks in January (18 January 2012), though The Lawyer reported that not everybody was said to be on board with the move – including Cobbetts’ managing partner Michael Shaw (16 January 2012).
The combination would have created a firm with around £132m in turnover and 1,798 staff.