Midsize Firms Should Consider Merger Options
Law firm mergers are on the upswing again. In fact, with 14 combinations announced in the United States in the third quarter alone, total merger activity was up 79 percent in the first nine months of 2011, compared to the same period last year, as reported by Altman Weil MergerLine on Oct. 3.
Why this sudden urge to merge? For midsize firms, the motivations range from mere survival to strategic growth—and everything in between. But regardless of the driving factors, firms should carefully consider the potential downsides to a merger, including whether joining forces with a larger shop may be risky in the long run for both their clients and their attorneys.