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Headline

Dentons makes partner cash call as it eyes tie-up

Comment

I do find the explanation for the additional capital (looking for a US merger partner) surprising. As a partner in a US firm I am aware that the basis of profit distribution (fees collected as against the DWS/UK model of bills rendered) means there is a significantly lower requirement for capital. Accordingly the high DWS capital requirement would act as a block on any merger as opposed to assisting it. DWS would have been better served by reducing drawings and paying off some of their overdraft if they really wanted a full US merger.

Posted date

2-Jun-2009

Posted time

1:33 pm

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