Hammonds has announced that it is in advanced talks with US firm Squire Sanders & Dempsey and, if all goes to plan, will merge by January 2011.
Assuming the tie-up goes ahead, Hammonds should feel pretty pleased with itself. Squire Sanders is a major firm - with 32 global offices and global revenues of $545m (£353m) for 2009, according to a Legal Week report. Whilst Hammonds hasn't been faring too badly of late, it can only muster ten offices and revenues of £118m. And the firm has never really made the impact it wanted in the City.
So Hammonds would get to flex more muscle in the City, and its emerging economy aspirations get a boost. Meanwhile, Squire Sanders boosts its European presence and will be delighted at securing a partner after unsuccessfully trying to woo Denton Wilde Sapte last year.
This is the latest in a stream of transatlantic mergers. Dentons found its soul mate in the end in the form of Chicago firm Sonnenschein, and will become SNR Denton next month. And Hogan Lovells continues to bask in wedded bliss. So who will be next to jump on the bandwagon? Well possibly SJ Berwin - if it ever manages to finalise its interminable tie-up talks with Proskauer Rose.
Tip Off ROF
Assuming the tie-up goes ahead, Hammonds should feel pretty pleased with itself. Squire Sanders is a major firm - with 32 global offices and global revenues of $545m (£353m) for 2009, according to a Legal Week report. Whilst Hammonds hasn't been faring too badly of late, it can only muster ten offices and revenues of £118m. And the firm has never really made the impact it wanted in the City.
So Hammonds would get to flex more muscle in the City, and its emerging economy aspirations get a boost. Meanwhile, Squire Sanders boosts its European presence and will be delighted at securing a partner after unsuccessfully trying to woo Denton Wilde Sapte last year.
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Partners from Hammonds and Squire Sanders prepare to formalise their union yesterday |
This is the latest in a stream of transatlantic mergers. Dentons found its soul mate in the end in the form of Chicago firm Sonnenschein, and will become SNR Denton next month. And Hogan Lovells continues to bask in wedded bliss. So who will be next to jump on the bandwagon? Well possibly SJ Berwin - if it ever manages to finalise its interminable tie-up talks with Proskauer Rose.