Simmons and Mayer Brown merger talks: round two

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  • Simmons needs to ask itself, how many of the MB partners would it recruit.
    Answer: very few because they are not in the same league- intellectually, or in terms of client getting skills.
    The good ones have gone- because they can.
    So why merge with them?

    Come on Simmons-you can do much better.

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  • I think everyone on this board is completely missing the point: David Ufuoma Omamogho@5.51PM is what Mayer Brown and Simmons needs to make this work. He has a clear sense of direction and would make a great chief executive of the combined firm.

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  • I've heard it all now...
    Mayer Brown partners are not in the same league intellectually as Simmons parrtners...
    I have nothing against Simmons - they are a decent enough firm - but they are not exactly world beaters...and arguably Mayer Brown is a stronger brand in the legal sector
    This Little England attitude to US mergers is thinly veiled xenophobia..we don't want Uncle Sam telling us what to do and knocking us into shape
    It was the same a few years ago when Richard Butler was acquired by Reed Smith - who are they, you can do better, not exactly Sullivan are they..etc..
    Well, I don't think the likes of Sullivan and Cravath are going to be interested so the next tier down in the U.S market - which is still very good - is the reality for all but the very best UK firms

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  • To "I've Heard it All Now":
    So, are you suggesting that Reed Smith's Richards Butler takeover was a great success?

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  • Paul Maher is what this firm would need!

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  • There are a couple of very good reasons why the merger will appeal to most S&S partners. Firstly, MB's PEP is about £200,000 higher than PEP at S&S (which has lagged its peers in this regard for years - anyone remember 3 or 4 years ago when it was sub-£300k?). Secondly, with the sheer scale of MB will allow greater investment in some of the overseas locations where S&S is underweight. S&S simply don't have the critical mass to recruit the right people and compete at the level they want to compete at - MB's money will change that to an extent. Of course, neither of these things addresses the desperate need for some corporate big-hitters in the S&S London office, and I'm not suggesting that a merged firm will suddenly have the quality to worry the top tier firms.

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  • I'd be amazed if MB's London PEP is anything like the figures quoted. That is what will be making S&S nervous.

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  • Looking at this the wrong way round on the PEP front. Why should MB tolerate a dilution in its PEP through merging with Simmons (assuming they merge and don't do some sort of DLA-style transatlantic divide). And if Simmons partners are contemplating some sort of PEP uplift then to achieve that there will need to be some sort of price paid - probably in the form of fewer former Simmons partners somewhere down the line. The money doesn't magically appear......

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  • There simply are not enough Simmons partners with a book of business big enough to generate the revenue required to produce the level of PEP of MB. If the merger goes ahead the Simmons partners will suddenly find their targets increased substantially and the removal mechanism (which currently in Simmons has the result of making it hard to remove non-performers) will be changed. Inevitably there will be a large number of partners not up to the job and out of a job. There simply is nothing special about Simmons. They are Volvo lite.

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  • One Simmons partner said: "I don't think that Mayer Brown's London office is very impressive, but it's very exciting that we are talking to a large international firm. We could do with a US presence and a boost in Asia. It could possibly be a good move.
    "The only two concerns are what we would do with their London office and that you are not in the driving seat when you're merging with a much larger firm."

    Simmons' partners are clearly very sharp.

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