There’s nobody I’ve talked to at Squire Sanders who doesn’t think Patton Boggs doesn’t have the potential to take the firm down.
(Do other legacy Squire Sanders & Dempsey partners feel the same way?)
According to the Am Law Daily, there are others who echo this anonymous partner’s concerns.
“Merger math is real simple,” says another. “One plus one has to equal more than two. That’s not what’s going on here. We’ve been running at about 80 percent of what we could be the past few years, and Patton Boggs, maybe 60 percent.”
When all was said and done, only 10 Squire Sanders attorneys out of the firm’s 428 partners issued “no” votes to the merger with Patton Boggs. Mark Ruehlmann, the chairman-elect of Squire Patton Boggs, thinks the newly merged firm’s future is bright, despite what all of the critics say:
Five years from now, [Ruehlmann] says, “we will have taken it to the next level. We will be bigger in the U.S. Every place where there is a major deal or dispute, where clients bump up against governments, this merger will be viewed as a game changer.”
We wish the best of luck to the new firm — hopefully it’ll be able to overcome a recent slump in profits.
The Story Behind the Squire Sanders-Patton Boggs Tie-Up [Am Law Daily]