Law firms seek merger partners

Article Abstract:

Australian law firms, in an effort to compete globally with international law-firm mergers, need to globalize their alliances or merge with an accounting firm. The biggest capital markets are in London and New York. The average value of an Australian merger/acquisition is $144 million. In the United States, it is $680 million and in the United Kingdom $1 billion. Top legal firms are concerned about losing autonomy in an overseas merger and may opt for an alliance. Merging with an accounting firm is another option, but most have little penetration in law markets in New York and London.

Australia, International, Legal Services, Statistical Data Included, Acquisitions and mergers, Law firms

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Merger stirs up talk of other matchmaking

Article Abstract:

Coopers and Lybrand's merger with Price Waterhouse likely will touch off a round of consolidation among top accounting firms and among other professional services. The next likely merger will be that of Deloitte Touche Tohmatsu and Ernst and Young. In Australia, some large law firms are trying to effect a merger with Andersen Legal, the lawyer arm of Arthur Andersen, but Andersen Legal is not interested in mergers in Australia.

Attorneys, Lawyers, Ernst & Young L.L.P., Deloitte Touche Tohmatsu, Andersen Legal C.V., Coopers & Lybrand L.L.P., Price Waterhouse L.L.P.

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