Mayer Brown and Simmons & Simmons have resumed merger talks, with both firms’ management set to brief their respective partnerships next week on the merits of a potential union.
As revealed by The Lawyer (7 June 2010) the two firms held initial talks over the creation of a combined firm that would have gifted Mayer Brown significant presence in the UK and Simmons an extensive Asia offering, but these conversations encountered problems.
Partners at Simmons subsequently met with management to demand feedback on the merger discussions but were informed that it was firm policy not to comment.
It was after the expression of partner interest that management at both firms revisited talks in secret off-site meetings and partners have now been called to briefings scheduled for next week.
Mayer Brown and Simmons & Simmons declined to comment.
This follows news that US firm Sonnenschein Nath & Rosenthal and the UK’s Denton Wilde Sapte are to merge on 30 September 2010 to create a £500m business (26 May 2010).
Readers' comments (9)
Anonymous | 18-Jun-2010 3:50 pm
This merger would be a disaster; Mayer Brown should learn from their previous mistakes!
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Hamish | 18-Jun-2010 4:24 pm
Re: Anonymous | 18-Jun-2010 3:50 pm
I wouldn't be so sure. performance may hve been disappointing last couple of years but then so has much of the upper mid market. They'll probably be one of the five or six largest firms in the UK as a result. Difficult to challenge that
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Anonymous | 18-Jun-2010 5:23 pm
Simmons & Simmons must be mad- they are making good head way in getting themselves back on track, why would they want to associate themselves with such a tarnished brand and such a raggle taggle bunch of partners in the UK?
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Anonymous | 18-Jun-2010 6:01 pm
They must be mad, this is a desperate cry for help from a firm that has more issues than BP. Simmons is a strong firm and as a longstanding client of theirs I would seriously have to consider whether or not continue using them.
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Anonymous | 19-Jun-2010 0:14 am
No logic in this; Mayer has a first rate Asia team from the JSM merger, and SImmons is doing fine in London - neither seems to need this and the fit is not obvious
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Anonymous | 19-Jun-2010 2:50 pm
Once Simmons publishes their annual results, then I strongly suspect that will paint a clearer picture into their proposed strategy. I think you will find Simmons is way down on turn over and PEP from the previous year and looking for a much needed lifeline.
Bad thing is, a renegade firm like Mayer will probably implement much rationalisation being the bigger of the two firms and will no doubt see several forced and/or natural departures from Simmons.
Merging two different cultures can cause much unrest and may take too long to settle down. When firms merge, one can justifiably argue that their independent strategies were flawed and are looking for help elsewhere, when all along, management should’ve grown the firm to avoid such circumstances and move forward independently.
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Anonymous | 19-Jun-2010 4:06 pm
Mayer Brown's London office is on the verge of collapse, I find it very hard to believe that Simmons would risk their well established reputation in London simply to enhance their business in other regions. I think when it comes down to making a decision as to whether to go ahead with this merger Simmons will be unable to overlook Mayer Brown's serious issues in London.
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Anonymous | 19-Jun-2010 6:00 pm
Any idea what this will mean for future trainees at both firms if it goes ahead?
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Anonymous | 26-Jun-2010 8:36 am
This may be just what Simmons needs. The current managment lacks direction and focus and the workforce is both undervalued and de-motivated.
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