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Dentons and McKenna Bring Merger Season to Fever Pitch
It’s been a year of law firm mergers, with the most we’ve seen since the economical meltdown of 2008; and since a tepid market and global competition are best fought by merging, its no surprise so many firms have adopted this strategy. The latest massive merger concerns Dentons and McKenna Long & Aldridge, who, if they unite, will become the third-largest law firm in the world, with only DLA Piper and Baker & McKenzie boasting a larger head count.
All that needs yet to be done is put the proposal to a vote. “The boards of Dentons and McKenna Long & Aldridge have recommended to their partners that the firms combine, subject to the approval of their respective partnerships,” the two firms said in a joint statement, as as The Am Law Daily reported. “The voting procedures will follow the protocols of each firm and will be completed no later than November 14, 2013.”
The firms have done fairly well this last year, in the meantime. Dentons saw its revenue hold steady at $710.5, with profits per equity partner bouncing 12.1 percent, while McKenna saw a 23.4 increase in revenue to $345 million, with profits per equity partner dipping 3.6 percent.
As for the final name of this two-headed behemoth, that is not yet disclosed.