mergers

Comcast has confirmed reports that the company will be acquiring Time Warner Cable in a deal estimated to be worth around $45 billion. With the ink on their NBC acquisition only just dry to the touch, the deal will tack 8 million broadband subscribers onto the company’s existing 22 million broadband customers. Comcast is already the nation’s largest fixed-line broadband company, largest cable TV provider, and third largest fixed-line phone company — and that’s before you include the company’s NBC or other assets. From a geographical perspective the deal makes sense; Time Warner Cable filling in Comcast’s coverage gaps and in particular giving Comcast the prized markets of Los Angeles and New York City, where Time Warner Cable has traditionally under-performed.

The problem is less of market share (the two companies didn’t compete directly) but one of consolidated power…

double red triangle arrows Continue reading “Comcast: Allowing Us To Get Immensely, Inconceivably, Ridiculously Massive Is ‘Pro Consumer’”

Ed. note: Happy Thanksgiving! We will resume our normal publication schedule on Monday, November 26. We hope you have a wonderful holiday, and we thank you for your readership.

* We’ve discussed this trend before, and it continues: administrations of the LSAT plunge further, reaching their lowest level since 1999. [Economix / New York Times]

* We’ve discussed this trend before, and it continues: judges are still offering unpaid clerkships (even though the days of law firm deferrals are behind us). [Salon]

* We’ve discussed this trend before, and it continues: law schools sometimes discriminate against conservatives, as jurors from the Teresa Wagner trial told Iowa’s leading newspaper. [Des Moines Register]

* Are you mooching off of someone else’s wireless internet? If so, consider yourself warned. [WSJ Law Blog]

* Are you a lover of Twinkies? If so, consider yourself warned (although it’s possible that a buyer might snap up the Twinkies brand). [DealBook / New York Times]

* Seven Am Law 200 firms are saying YES to work on a billion-dollar deal. [Am Law Daily]

Law firm mergers seem to be popping up as frequently as, well, problematic emails between married generals and their gal pals. Just a week after SNR Denton’s three-way merger with international firm Salans and Canadian firm Fraser Milner Casgrain, we’re learning of another law firm combination with Canadian and European elements.

This morning brings word of a merger between the global law firm of Norton Rose and the international but U.S.-based law firm of Fulbright & Jaworski. As you may recall, Fulbright has been the subject of merger buzz before — including rumors that featured Norton Rose as suitor.

How big will the new firm be, and what name will it operate under?

double red triangle arrows Continue reading “Law Firm Merger Mania: Fulbright & Jaworski Smells Sweet to Norton Rose”

He’s going to Disney World? No, not this veteran M&A lawyer….

Let’s say you graduated from a leading college, summa cum laude, and from an elite law school, also summa. You began your legal career as a transactional lawyer at one white-shoe law firm, where you made partner. You left that firm for investment banking, where you encountered significant success. Then you returned to the legal world, first as an M&A partner at one top firm, then at another. At your final firm, you served as global co-chair of the firm’s renowned mergers and acquisitions group, working on some of the biggest deals around the world.

Then, in your 70s, you decide to leave your firm and also the legal world. Where would you go next?

double red triangle arrows Continue reading “Musical Chairs: A Prominent Deal Lawyer’s Unusual Move”

Edwards Angell & Wildman Harrold: A match made in heaven?

What results from the coupling of an angel and a wild man? One might think: angel + wild man = air traffic nightmare.

In the law firm context, however, the result is quite different. Edwards Angell is merging with Wildman Harrold, to form Edwards Wildman Palmer. The merger will take effect on October 1 and “will bring together 650 lawyers across two legacy firms renowned for their deep experience, shared dedication to client service, and highly collaborative cultures,” according to the new firm’s website.

What else do we know about Edwards Wildman Palmer? And what might be motivating this merger?

double red triangle arrows Continue reading “Law Firm Merger Mania: Edwards Angell Merges With Wildman Harrold”

Now that both partnerships have voted, the merger between Sonnenschein and Denton Wilde is a done deal. But the ride between now and the effective merger date of September 30th could still be bumpy.

The first bump is coming from Thacher Proffitt & Wood. As TPW was dissolving, Sonnenschein scooped up 100 lawyers from Thacher Proffitt. The partners involved received significant compensation packages.

According to The Lawyer, those well-compensated partners are now thinking of leaving Sonnenschein, before the merger…

double red triangle arrows Continue reading “Ghosts of Thacher Proffitt Get SNR Denton Off on a Sour Note”

Sonnenschein isn’t going to let the recession slow down its expansion. Back during the heart of the recession, Sonnenschein saved around 100 lawyers from the sinking Thacher Proffitt.

Today brings news that Sonnenschein has expanded its reach across the Atlantic Ocean. The firm has proposed a merger with U.K.-based Denton Wilde, to form SNR Denton. From the new firm’s press release:

SNR Denton would be a top 25 law firm worldwide by size, with approximately 1,400 lawyers and fee earners on four continents, a presence in 18 countries, and its two largest offices in London and New York…

SNR Chairman Elliott Portnoy, who will become co-CEO of SNR Denton, said: “This combination is the next step in our vision to create an elite, client-focused international firm that is about one thing – quality. Both firms have long enjoyed reputations as being world class, and now together we’ll have the assets and professional resources to carry that forward to new sectors, new practices, and new markets. As one firm, we will be able to serve our clients better.”

‘Tis the season for transatlantic mergers? The Sonnenschein news comes on the heels of Ho-Love (a.k.a. Hogan Lovells) beginning operations…

double red triangle arrows Continue reading “Law Firm Merger Mania: Sonnenschein to Merge with Denton Wilde”

Not everybody from Lovells will be jumping on the Ho-Love bandwagon this May. Legal Week reports that Lovells will close its Chicago office:

Lovells is set to shut down its Chicago office by the end of October following a strategic and financial review of its business.

The office, which has seven partners and 15 fee earners, has been under review since before the firm’s merger talks with Hogan & Hartson began.

Not everybody can benefit from the something about synergy upside of the merger. But will these Chicago castoffs find new homes?

double red triangle arrows Continue reading “Nationwide Layoff Watch: Lovells Makes Cuts Ahead of May Merger”