Dickstein Shapiro Finds A Firm To Rescue It From Certain Death

Will Dickstein Shapiro be able to ride off into the sunset with its valiant knight?

Earlier today, we reported that 150-lawyer Dickstein Shapiro, a firm that lost a significant portion of its attorneys and partners in 2015, had set a December 15 deadline to find itself a merger partner. The ailing firm had its eyes set on a merger match with St. Louis-based Bryan Cave, but no one was certain if Dickstein Shapiro’s suitor was receptive to its amorous advances.

We recently learned Dickstein Shapiro’s partners approved a potential merger with Bryan Cave yesterday, on its drop-dead date. But what about Bryan Cave? After all, when it comes to law firm love, it takes two to tango. According to the National Law Journal, Bryan Cave’s partners are voting on the proposed merger today. What’s left to consider?

Bryan Cave had almost 1,000 lawyers firmwide last year, including 52 lawyers in Washington.

While Bryan Cave is the larger firm by headcount, law firms often attempt to merge or acquire firms that reach similar productivity and profitability.

Bryan Cave’s revenue per lawyer averaged $650,000 last year, while Dickstein Shapiro’s lawyers hit $960,000. Bryan Cave earned profits per partner of $815,000 in 2014, while Dickstein Shapiro’s hit $1.01 million.

Putting the financial disparities aside, a merger between Dickstein Shapiro and Bryan Cave could be a match made in heaven. Bryan Cave has 19 offices, while Dickstein Shapiro only has four, and just three of the firms’ offices overlap in location. This will likely reduce the need for layoffs due to redundancies among attorneys and staff.

Will Dickstein Shapiro be able to ride off into the sunset with Bryan Cave, its valiant knight? Only time will tell, but until then, Dickstein Shapiro still has a few firms to flirt with — Perkins Coie and Locke Lord — before the end of the year. Best of luck!

Dickstein Shapiro Partners Approve Bryan Cave Tie-Up [National Law Journal]

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