Pannone vote on Slater & Gordon takeover delayed again

Pannone has delayed a partner vote on its proposed merger with Slater & Gordon for a second time.

According to sources close to the firm an email circulated to partners last Thursday (7 November) said that the vote, originally scheduled for tomorrow (12 November), had been postponed for a week.

The delay means that an exchange is now expected in two weeks (25 November). Previously, managing partner Emma Holt had been aiming to complete by Thursday (14 November).

The email is believed to have blamed the delay on the volume of documentation that needed finalising, in particular that relating to the spin-off of the corporate side of the business.

Last month it emerged that there were tensions within the partnership over how the business was to be divided (21 October 2013).

If the deal were to go ahead Pannone’s private client side is expected to be sold to Slater & Gordon and the corporate group will be developed as a niche practice under the Pannone brand.

Despite speculation that Slater & Gordon’s AGM in Sydney on 24 October would force Pannone partners to reach a decision, no new details emerged at the time. Instead the firm announced the acquisition of niche industrial disease firm John Pickering and Partners (24 October 2013).

That acquisition was the Australian firm’s fourth since August, following Taylor Vinters’ Cambridge-based personal injury and Court of Protection practice (19 August 2013), Liverpool-based Goodmans (30 August 2013), and 280-strong personal injury firm Fentons (21 August 2013).

Both firms declined to comment.