CMS, Nabarro and Olswang confirmed this week that their partners had voted overwhelmingly in favour of a merger.
A statement said that the new firm would be formed by May next year, would be the sixth largest in the world and would go by the name of "CMS Cameron McKenna Nabarro Olswang LLP". Riiiiight. Although everyone will call it CMS, as "the new firm will trade as CMS", and "Nabarro and Olswang will join the CMS UK LLP partnership".
It's all jolly exciting obviously, and if it happens will be the largest UK law firm merger, creating a firm with over 1,000 partners and 7,500 employees globally. If it happens. And there's no doubt that the leadership of all three firms are doing their best to get it over the finish line. But sources close to the deal have told RollOnFriday that it's just too complex to put together and a cheeky three-way isn't a realistic prospect.
The more likely result is that Nabarro and CMS stay independent but pick over the bones of long-struggling Olswang. Nabarro wants its real estate team, and CMS wants its corporate team. An outcome that would work perfectly well for both firms, if rather less so for Olswang. CVs are apparently already landing on desks across the City.
Tip Off ROF
A statement said that the new firm would be formed by May next year, would be the sixth largest in the world and would go by the name of "CMS Cameron McKenna Nabarro Olswang LLP". Riiiiight. Although everyone will call it CMS, as "the new firm will trade as CMS", and "Nabarro and Olswang will join the CMS UK LLP partnership".
It's all jolly exciting obviously, and if it happens will be the largest UK law firm merger, creating a firm with over 1,000 partners and 7,500 employees globally. If it happens. And there's no doubt that the leadership of all three firms are doing their best to get it over the finish line. But sources close to the deal have told RollOnFriday that it's just too complex to put together and a cheeky three-way isn't a realistic prospect.
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A cheeky three-way How they think it would look |
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How it would actually look |
The more likely result is that Nabarro and CMS stay independent but pick over the bones of long-struggling Olswang. Nabarro wants its real estate team, and CMS wants its corporate team. An outcome that would work perfectly well for both firms, if rather less so for Olswang. CVs are apparently already landing on desks across the City.
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Weird that Nabarro ever thought about giving up the no.1 prestige brand in commercial real estate in the UK. Might be a better result anyway to dissolve it in the rather anonymous CMS brand. Still, CMS and Nabarro can always pack more people in to their nice new open plan offices designed by Messrs Bruegel & Bosch.
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