Masons is hoping to secure a merger with Pinsents by the end of the month.
The combined firm would boast total revenues in excess of £150m. In the last financial year Pinsents reported £91.7m in turnover, with Masons' standing at £67m, according to the latest figures from The Lawyer UK 100 Annual Report 2004.
Profit per equity partner at the two firms is broadly similar, with PEP at Pinsents standing at £270,000 compared to Masons' £247,000.
In November 2003, Pinsents entered merger talks with 48-partner London outfit Nicholson Graham & Jones (NGJ). However negotiations collapsed in January, when NGJ has started negotiating a tie-up with US firm Kirkpatrick & Lockhart.
Last year Pinsents launched a chosen markets strategy, restructuring the firm into six cross-departmental groups: financial services and insurance, government, manufacturing, real estate, services and technology.