Rumours have been rife for some time that Clifford Chance was about to merge with a big US player. Now it appears that the rumours are true. Partners will be asked to vote in June on whether to accept the merger.
Though not every partner will be overjoyed at potential changes to remuneration, there are obvious strategic benefits from running a truly global law firm that can compete effectively against the accountants. This could herald a new wave of UK takeovers. The question is do clients have the internal structures available to benefit from the critical mass of a global law firm?