Salans, SNR and FMC approve three-way merger after partner votes
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Partners at Salans, SNR Denton and Canadian firm Fraser Milner Casgrain (FMC) have ratified the firms’ three-way merger in votes taking place today.
Elliott Portnoy
All three firms approved the deal, with Salans partners asked to publicly state their voting preference in a firm-wide meeting earlier (28 November 2012).
The firm will be known as Dentons and will officially have no headquarters.
The trio said in a statement: “The partners of Salans, Fraser Milner Casgrain and SNR Denton today approved combining to create a new global law firm driven to give its clients a competitive edge in the world’s largest legal markets.”
The firms added: “Dentons will connect clients to the skill and expertise of more than 2,500 talented lawyers and professionals in 79 locations and 52 countries across Africa, Asia Pacific, Canada, Europe and Central Asia, the Middle East, the UK and the US. It will be the seventh-largest law firm in the world, measured by number of lawyers and professionals.
The name of the firm will continue to incorporate the Salans, FMC and SNR brands initially.
The combined outfit will be headed by global CEO Elliott Portnoy and will be effective in the first quarter of 2013.
Readers' comments (10)
Anonymous | 28-Nov-2012 6:59 pm
This is more than a trend, it's a game-changer for these firms and for the market.
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Anonymous | 28-Nov-2012 10:10 pm
Congrats for creating a new top ten law firm. I wonder who will they absorb next.
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Anonymous | 28-Nov-2012 11:31 pm
Very uninspiring. The legal market place does not need more enormous lower mid-market global firms in the image of DLA Piper.
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Perhaps... | 29-Nov-2012 10:55 am
@Anonymous 11:31 pm.
'The legal market place does not need more enormous lower mid-market global firms in the image of DLA Piper.'
Interesting comment, but I disagree. The global legal market actually does need plenty more mid-market global law firms, precisely because of globalisation, Even AIM-listed companies need considerable international help and they can't afford the Magic Circle. Is the Dentons deal a challenge to the MC? No. But it was never meant to be. It's just servicing a growing need from the mid-to-upper market client sector.
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Anonymous | 29-Nov-2012 10:56 am
Re. comment at 11:31 PM: sorry, but the future is in offering world wide coverage and local law expertise. The Dentons merger can only benefit the involved entities and improve competition in the legal market.
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Anonymous | 29-Nov-2012 11:15 am
I've got an idea. Why don't all these "giant" merged firms all merge together to create one super merged firm and try and spread themselves as thinly as possible all over the entire Earth. Classy. They could rebrand themselves as Tesco. Expect huge out of town offices and self service check-outs next.
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Anonymous | 29-Nov-2012 2:05 pm
So we'll end up with essentially three types of law firm:
- smaller high end magic circle / white shoe firms like Slaughter & May, Davis Polk etc;
- global full service firms (ranging from Clifford Chance to Ashurst/Norton Rose to Dentons/Bakers); and
- small boutique firms that service specific markets (think Withers for private clients etc).
Hard to see room for the others ...
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Anonymous | 29-Nov-2012 2:38 pm
How many verains are they going to have for this one? SNR Denton has two. I guess each of the other ones will have their own. How do four separate accounting/ fiscal structures work together to have a joined firm? Hard to imagine how the cultural and economics will provide for a coherent firm.
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Anonymous | 29-Nov-2012 3:10 pm
Anonymous | 29-Nov-2012 11:15 am
Self service check outs would surely be preferable to endlessly chasing bills?
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ExCitylawfirmworker | 5-Dec-2012 4:52 pm
"The name of the firm will continue to incorporate the Salans, FMC and SNR brands initially."
Based of legal firms' recent track records, we can expect the utterly predictable "SNR Salans FMC".
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