Here is yet another rumor — somewhat better sourced than the Thacher Proffitt / King & Spalding rumor, but a rumor nonetheless — about a possible law firm merger.
Word on the street is that Seyfarth Shaw is seeking a merger partner. This should not come as a shock, since Seyfarth has been stumbling a bit due to the downturn. As previously reported, the firm has pushed back start dates and trimmed its lawyer ranks.
The Seyfarth partnership recently returned from its retreat, where strategic opportunities were discussed. The scuttlebutt is that the firm is in “serious” merger talks with another firm of roughly equal size. Upon information and belief, that firm is Squire Sanders.
Both firms hover around the 800-attorney mark. The product of their merger — nicknamed “S4″ by one tipster, standing for either “Seyfarth Shaw Squire Sanders” or “Squire Sanders Seyfarth Shaw” — would be a 1600-lawyer behemoth. The combination would give Seyfarth a coveted foothold in Bratislava.
Associate meetings were held in all Seyfarth Shaw offices earlier this afternoon. Associates were briefed on the retreat and told about ongoing merger talks with another firm. Details are scarce; the confidential nature of the merger talks was stressed to the associates “about a dozen times.”
Whether these talks will bear fruit is anyone’s guess. Lately law-firm merger talks have been falling at a high rate.
We’ll keep you posted. If you have any info to share, please email us. Thanks.