That might all be about to change, and pretty dramatically too.
The firm is in merger talks with Hogan & Hartson, a $922.5m firm (see story). A deal would catapult Lovells into the top 10 of the world’s largest law firms.
Washington DC-based Hogan, known particularly for regulatory, IP and antitrust work, was one of the few US firms to post an increase in revenue last year.
Lovells also posted an increase in revenue last year, although firmwide managing partner David Harris said at the time that, had the impact of currency fluctuations been stripped out of the results, turnover would have grown by between 1 and 2 per cent rather than 11 per cent (see story).
Nevertheless, both firms’ relatively healthy financials suggest that this would not be primarily a defensive merger but one genuinely aimed at significantly extending the services both firms provide to clients.
As such, this deal would be game changing.
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