For many months now Clifford Chance has hogged the merger-mania headlines. So it must have been with great satisfaction that the partners at Freshfields approved its merger with German firm Deringer Tessin Herrmann & Sedemund – just 24 hours or so before Clifford Chance goes down the same road with Punder Volhard Weber & Axster.
Deringer should make an ideal merger partner. It is a compact firm with just 32 partners. But its strengths are based upon high-earning corporate work. It carries little or no dead wood. Freshfields knows exactly with whom it is jumping into bed.
Can Clifford Chance say the same about its hastily arranged marriage to Punder? Time will tell.