London and St Albans firm KSB Law has broken off merger talks with South East firm DMH Stallard and is in discussions with Davies Arnold Cooper (DAC).
The news thwarts DMH Stallard’s plans to merge its strengths in commercial, real estate and private client law with 18-partner KSB (first revealed by The Lawyer, 28 May).
DAC confirmed that the talks, which began a month ago, are at an advanced stage. DAC managing partner Rowan Planterose said: “We specialise in dispute resolution and real estate, so we feel there are a lot of synergies there.”
Planterose said that a decision would be made by September. It is understood that the merged firm would be known as Davies Arnold Cooper.
As reported by The Lawyer (11 June 2007), DAC’s average profit per equity partner came in at £345,000, up from £333,000, while turnover increased by 5 per cent to £32m. However, total profit rocketed by 38 per cent to £8.3m from £6m. The acquisition of KSB would add another £8m to the firm’s turnover.
DMH Stallard was unavailable for comment.