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Norton Rose to merge with Canada's Ogilvy and South Africa's Deneys

How can the above revenue numbers be accurate? NR was (at least a few months ago) estimating turnover of £440m once it had incorporated Deacons in Australia. To get to the level cited above (£622m), it would need to increase turnover by nearly 50% just by this merger (£222m). This cannot be done by a merger with Oglivys nor with Deneys Reitz, as both firms lack turnover of this magnitude. Ignoring NR's projections, and working solely on their global turnover for last year (£307m), to break the $1bn (£622m) mark, NR would need to increase turnover by more than 100% to achieve the estimate that was cited in this article, in the firm's press releases and repeated throughout the legal press.

17-Nov-2010

2:01 am