JD Journal » mergers & acquisitions

Law Firms Merge Together

jim — Mon, 31 Oct 2011 01:25:56 +0000

Two separate law firms have chosen to merge together. The Weintraub Genshlea Chediak Law Corporation and Tobin & Tobin are now joining forces. Because the companies are merging, there will be a slight name change. These two firms will have offices opened in several areas of California. Offices will be located in Sacramento, Los Angeles, and in San Francisco.

Because the economy was headed toward a downward spiral in 2007, many firms chose to merge with other firms as a means of survival. Without mergers, many firms would have collapsed. A merger for Weingtraub Genshlea Chediak Law Corporation and Tobin & Tobin was a wise choice because both of these firms have an outstanding reputation and both firms have a mutual amount of respect for one another. Now that these firms have joined forces, they will be able to continuously grow, expand, and become even more successful than they already were. Both of the firms are looking forward to working with one another and spokespeople for both corporations have had nothing but positive things to say about the merger between the two firms.

The major focus of the firm is to work together on areas that have to do with real estate, banking, taxes, employment, disputes, and other similar areas. There will be about sixty attorneys combined from both of the law firms who will work on different cases with different clients.

The shareholder for the Weintraub Incorpotation has said, “Our client relationships are expanding more and more throughout the state, and many of those relationships are in the Bay Area. To better meet the needs of our clients and as part of our strategic expansion plan, we looked for a firm like Tobin & Tobin — one that complements our specialty practice areas.” They are excited for the merger and believe this was the best decision to make. Weintraub Incorporation believes that Tobin & Tobin was the perfect match for the merger.

The managing partner for Tobin & Tobin agrees and says, “We have long admired the work and culture of Weintraub. We share a vision of value-added, trust-based relationships and are confident that with our combined capabilities and expanded services we will be in an even better position to meet our clients’ needs.” Because both of the companies respected and admired one another, the merger was such an easy decision and it makes it even more successful than some mergers.

Now that the two law firms have merged together, they believe they will be able to meet their clients needs even further than they were able to before. Employees for both companies will continuously provide support for one another in hopes of continuing success and helping clients.

More Law Firms Joining Forces

jim — Wed, 19 Oct 2011 22:55:24 +0000

Law firms are healthier now than ever. The economy is seeing a rise in transactions this quarter and is only expected to get better. There has been at least a 78% increase over the past couple of months in mergers. It may be hard to believe but most of this success is coming from small law firms that are really pushing the business envelope.

“It looks like the law firm merger market is back,” Altman Weil principal Ward Bower said in a statement. “This is the fourth strong quarter in a row we’ve seen, and we’re aware of a lot of activity in the pipeline.”

Mergers are not the only headlines making the news regarding law firms. Several firms are working together to create more lawyer job positions that will help strengthen the market even more.

“Among the notable mergers announced during the third quarter:Edwards Angell Palmer & Dodge’s union with Wildman, Harrold, Allen & Dixon to create 650-lawyer Edwards Wildman Palmer in a deal that became official Saturday.”

The upcoming quarter is also looking rather robust in the eyes of the economy. McAfee & Taft is seeing an increase in 167 lawyers. The law firm has only been around since 2008 but is forever active on the merger market. This decision to expand was following the news of the “Oklahoma City–based Crowe & Dunlevy and Day, Edwards, Propester & Christensen to join forces and create a 140-lawyer firm that is one of McAfee & Taft’s largest Sooner State rivals.”

Law firm mergers are occurring all over the place in the Nation. A very large law firm that is heavily noted around the world is aiming to become even bigger. This firm is known as SNR Denton and has been heavily noted for other major mergers across the United States.

The United States is not the only country that is seeing an increase in law firm mergers. Many companies are connecting together to create a larger firm that is more powerful.

“Major British firm Ashurst—whose merger talks with Fried, Frank, Harris, Shriver & Jacobson were delayed and then scuttled eight years ago—announced late last month that it has struck a deal with leading Australian firm Blake Dawson to complete a tie-up by 2014.”

This is all great news in the world of legal matters. The legal world was hit hard in the economy since 2008 and lawyers are thrilled to see this major increase in mergers and business. If there was no business, then firms would not be as eager to create more jobs.

One last merger that has been hitting headlines deals with Clyde & Co which pulled off one of the biggest law firm mergers ever noted. This merger happened in the United Kingdom but is being heard in all four corners of the world.

GSI Commerce Being Purchased by eBay for $2.4 Billion

aostler — Tue, 29 Mar 2011 20:24:07 +0000

On Monday, March 28, eBay Inc. announced its plans to buy GSI Commerce for $2.4 billion. GSI Commerce is a Pennsylvania based company that provides online marketing services and operates websites for 180 retailers, including Toys R Us, Ace Hardware, American Eagle Outfitters, and Bath & Body Works.

Advising eBay is Dewey & LeBoeuf, with Keith Flaum, its Mergers and Acquisitions partner from Silicon Valley, leading the team. Flaum has advised eBay previously in 2010 and 2009. Several other partners that are also advising eBay with Flaum include: Jane Ross and Rick Climan, M&A Partners; Eric Reifschneider and Robert Finkel, technology transactions partners and counsel Spencer Wood; David Smith, corporate partner; Greg Owens, finance partner and counsel Patti Marks; and employment partner Mitch Pahl. The general counsel for eBay is Michael Jacobson.

GSI was advised by Morgan, Lewis & Bockius, with a team led by finance partner Richard Aldridge. Aldridge was assisted by Robert Gooding, litigation partner; Harry Robins, antitrust partner; Paul Gordon, tax partner; Joseph Ronan, employee benefits senior counsel, as well as partner Amy Kelly; Ron Dreben, Kenneth Davis, and Louis Beardell, IP partners; and Howard Kenny and Justin Chairman, finance partners. GSI’s primary in-house attorney was it’s own vice president and general counsel, Arthur Miller.

GSI is also being given counsel by Davis Polk & Wardwell. The team from Davis included Rachel Kleinberg, tax partner, Daniel Kelly Jr. and Julia Cowles, corporate partners, and Dennis Glazer, litigation partner. The CEO of GSI, Michael Rubin, is being advised by Sullivan & Cromwell, led by John Savva, corporate governance partner.

Weil, Gotshal & Manges are advising Morgan Stanley, which is GSI’s financial adviser in this deal. Michael Aiello, corporate partner, is leading that firm’s team.

Although the agreement has been signed, there is a now going to be a waiting period of 40 days so that GSI can consider other bids. If the deal is approved by GSI shareholders and receives regulatory approval, it should close sometime in the third quarter.

AT&T Will Use Sullivan & Cromwell in $39 Billion Purchase of T-Mobile USA

aostler — Tue, 22 Mar 2011 18:44:28 +0000

AT&T has plans to buy T-Mobile USA from Deutsche Telekom for $39 billion. The lead firms that are going to be representing AT&T and Deutsche Telekom are Sullivan & Cromwell and Wachtell Lipton Rosen & Katz.

Sullivan and Cromwell is using a team led by New York partner Joseph Frumkin and LA partner Eric Krautheimer, which is giving advice to AT&T on the deal. LA partner Hydee Feldstein is giving advice to the company on financing, while Frankfurt corporate partner Wolfgang Feuring is in charge of any German law matters. Two other partners from New York are also part of the team. These two partners are Andrew Mason, tax partner, and benefits/executive compensation partner, Matthew Friestedt. Regulatory advice is also being given to AT&T by Crowell & Moring and Arnold & Porter.

Wachtell Lipton Rosen & Katz is representing Deutsche Telekom in the deal. The firm is being led by corporate partners Steven Cohen and Adam Emmerich. Two other firms, Cleary Gottlieb Steen & Hamilton and Wiley Rein are also giving advice to Deutsche Telekom.

An equity stake in AT&T will be given to Deutsche Telekom as part of the deal, and a representative from Deutsche Telekom will join AT&T’s board of directors.

Although AT&T and T-Mobile have approved the deal in both of their company boards, if this goes through, it will create the biggest cellular carrier in the United States. Combining T-Mobile USA’s 34 million subscribers with AT&T’s 95.5 million will push them above Verizon’s 94.1 million subscribers.

According to the Wall Street Journal, this deal is likely going to be of “particular concern to antitrust enforcers because the industry’s two dominant companies – Verizon Wireless, a joint venture of Vodafone Group PLC and Verizon Communications, and AT&T – are already so far ahead of anyone else, raising the specter of an effective duopoly in mobile telephony.”

According to the companies, this deal will provide both parties with “an optimal combination of network assets to add capacity sooner than any alternative, and it provides an opportunity to improve network quality in the near term for both companies’ customers. In addition, it provides a fast, efficient and certain solution to the impending exhaustion of wireless spectrum in some markets…”

In “approximately 12 months” the deal is expected to close, according to a statement from AT&T. If the deal does not end up going through, AT&T will pay a $3 billion breakup fee.

Canada’s Miller Thomson to Merge Soon

marvins — Wed, 01 Dec 2010 00:16:11 +0000

A merger plan for Miller Thomson, one of Canada’s largest national law firms, might surface soon. Pierre Paquet, a litigation partner in the firm’s Montreal office, told the Montreal Gazette that Miller Thomson partners could be asked to approve a merger scheme as early as next week. Paquet cited that tentative nature of the talks is now under negotiation but the Miller Thomson partners had yet to vote on the proposal.

Other Canadian firms continue to hunt for merger partners. Canada’s Ogilvy Renault announced it would now become part of a new Norton Rose international mega-firm. McMillan and Lang Michener also revealed their intention to combine operations earlier this month.

According to Legal Week report, Canada’s financial adaptability in the face of the global economic downturn and its abundance of natural resources make the country an attractive target for US and British firms seeking a base of operations. However, Gregory Turnbull, Calgary regional managing partner at McCarthy Tétrault, told Legal Week that a merger by one of Canada’s top firms is unlikely. “With most international markets either flat or depressed, firms are looking to place themselves where the deal flow is, which Canada is able to provide as one of the world’s resource hubs for oil and gas and mining. I would be surprised, however, if the top-tier Canadian firms decided to pursue [the merger] route,” he added.

Morning Roundup

joshua — Mon, 27 Sep 2010 12:56:42 +0000

Good morning everyone! Today is Monday, September 27th. Here’s a quick look back at Friday’s stories.

Dinsmore & Shohl Welcomes New Partner Michael DiSanto to Corporate Department…

The publisher of The American Lawyer, Corporate Counsel and other legal and business titles, is consolidating its legal research functions into a single organization…

Butzel Long Shareholder was named a recipient of the 2^nd Annual International Mergers & Acquisitions Advisor Award…

London-based firm Kennedy’s opened an office in Miami…

Poll conducted earlier this week by the New York State Bar Association revealed guarded optimism about hiring trends and demand for legal services in 2011…

Butzel Long Shareholder Earns M&A Advisor Award

joshua — Fri, 24 Sep 2010 21:00:30 +0000

Richard S. Green, a shareholder of Butzel Long based in the firm’s New York office, has been named a recipient of the 2^nd Annual International Mergers & Acquisitions Advisor Award in the category of “Industrial Manufacturing/Distribution.” Green is receiving the award for his work as part of the team of professionals that advised Parsons Brinkerhoff Inc. in its acquisition by Balfour Beatty plc.

Green acted as special counsel to Parsons Brinkerhoff, providing advice on corporate and securities law matters involved in the deal, including the preparation of the proxy statement and amendments to certain of Parsons Brinckerhoff’s governing documents in connection with the transaction.

Balfour Beatty agreed to buy Parsons Brinckerhoff for approximately $626 million. The acquisition closed in October 2009.

International Award Winners were chosen in three categories: Mergers & Acquisitions, Financing and Turnarounds. Transactions had to close between January 1, 2009 and March 31, 2010 and be valued above US $10 million.

Green will be recognized for his outstanding achievements in International M&A, Financing and Turnarounds by reason of his involvement in this transaction at a celebratory Awards Gala Luncheon in New York City on September 27 2010.

Established in 1854, Butzel Long has 190 attorneys with offices in Detroit, Bloomfield Hills, Lansing and Ann Arbor, Michigan, New York City and Washington, D.C.

Morning Roundup

joshua — Mon, 19 Jul 2010 12:42:20 +0000

Good morning everyone! Today is Monday, July 19th. Here’s a quick look back at yesterday’s stories.

White & Case added two partners to its IP practice n Washington…

Shearman & Sterling ranked No. 2 worldwide in global M&A…

Shearman & Sterling No. 2 Worldwide in Global M&A

joshua — Fri, 16 Jul 2010 11:44:26 +0000

According to Dealogic, Shearman & Sterling LLP is number 2 worldwide for the second quarter of 2010 for its role in global M&A. The firm was involved in 23 deals with a total value of over $46.5 billion.

A few of Shearman & Sterling’s M&A deals announced in the second quarter include the firm’s representation of Sybase in its pending $5.8 billion sale to SAP; Psychiatric Solutions in its pending $3.1 billion sale to Universal Health Services; and Credit du Nord in its pending $1.05 billion acquisition of Societe Marseillaise de Credit.

According to the article at the firm’s website, Harald Selzner, a Dusseldorf-based partner who co-leads the firm’s global M&A practice was quoted as saying: “While the M&A landscape has been uneven thus far in 2010, with heavy activity early in the year followed by a bit of a slowdown in the late spring, this global ranking underlines our critical role in some of the most significant transactions of the year. We remain a go-to firm for major transactions worldwide, including some of the more complex, cross-border deals.”

Shearman & Sterling has been advising many of the world’s leading corporations and financial institutions, governments and governmental organizations for more than 135 years. The firm is a global law firm with approximately 900 lawyers in 19 offices in 12 countries around the world.

Clifford Chance Names New London Practice Head

eric — Tue, 06 Jul 2010 14:44:29 +0000

Reuters: Clifford Chancepartner Simon Tinkler has been tapped to replace current London corporate practice head, David Pearson. Pearson, who held the position for two terms, will continue work within the group, focusing on corporate finance and mergers and acquisitions.

Tinkler’s practice specializes in private equity, complex leveraged buyouts, and international and pan-European corporate takeovers, mergers and acquisitions. Mr. Tinkler has also served in an advisory capacity for a number of investment banks.

Clifford Chance is one of the world’s leading law firms with 29 offices in 20 countries and 3,600 legal advisors globally. The firm is structured around six global practice areas: Banking and Finance, Capital Markets, Corporate/M&A, Litigation and Dispute Resolution, Real Estate, and Tax, Pensions and Employment.

Sidley Continues Expansion In Palo Alto

eric — Mon, 07 Jun 2010 19:06:10 +0000

Yabo Lin has joined Sidley’s Palo Alto Office as a partner, says Business Wire. Representing a large number of telecom, green energy and software companies, as well as other industries, Lin’s practice focuses on acquisitions, securities and compliance. Prior to joining Sidley, Lin was licensed to practice in China and accordingly his time will now be split between his home country and Palo Alto. Sidley established its Palo Alto office last year to create a presence in markets focused on tech and business innovation.

With its base of operations in Chicago, Illinois, Sidley Austin LLP is one of the world’s largest full-service law firms, with approximately 1700 lawyers practicing in 17 U.S. and international cities.

Morning Roundup

joshua — Mon, 29 Mar 2010 12:18:25 +0000

Good morning everyone! Today is Monday, March 29, and here’s a look back at Friday’s news to start off the new week.

Jones Walker has opened a new office, in an unusual place…

A Minnesota law firm has uncovered documents linking the Pope to the sexual abuse scandals rocking the church…

Akin Gump acquired a liberal lobbying firm…

A telemarketing company has been found in violation of the Do Not Call Registry and banned from making any more calls…

DLA Piper has established a presence in Turkey…

Weil Gotshal led the legal world in Mergers and Acquisitions for the first quarter of this year…

Greenberg Traurig picked up 3 lawyers from Kirkland & Ellis in London…

A Pennsylvania court has refused to grant a divorce to a gay couple married in Massachusetts…

and President Obama announced another US Attorney nominee…

Weil Gotshal Tops the World in M&A Advisements

joshua — Fri, 26 Mar 2010 15:59:20 +0000

Weil, Gotshal & Manges advised on $90.8 billion in announced mergers and acquisitions in the first quarter of 2010 to top all law firms. Reuters reports an improved credit market and more risk taking has led to a rebound in the M&A market.

Weil Gotshal’s advisements included the biggest in the quarter, a $35.5-billion takeover of American International Group Inc’s Asian life insurance unit by Britain’s Prudential Plc. Frederick Green, co-chairman of Weil’s M&A practice, commented on the state of the market.

“You are seeing the effects of pent-up demand after a lengthy period of very slow M&A activity, coupled with a strong equity market,” Green told Reuters. “That has led to a marked increase in the number of stock-for-stock mergers, where the buyer’s stock is used as acquisition currency.”

Coming in second in transactions with $88 billion was Wachtell, Lipton, Rosen & Katz. It is followed by Cleary Gottlieb Steen & Hamilton ($80 billion), Davis Polk & Wardwell ($77.2 billion).

Skadden, Arps, Slate, Meagher & Flom LLP which ranked first last year, came in eighth. Weil ranked 10^th last year.

K&L Gates Brings on Partners

Erik Even — Fri, 21 Aug 2009 19:39:32 +0000

Charles D. Holland joins K&L Gates from Morrison & Foerster as a partner in the Palo Alto office. He focuses on intellectual property matters. He has extensive experience in patent prosecution, portfolio review and strategic advice, ex-parte and inter-partes reexaminations, interferences, non-infringement and invalidy analyses and opinions, due diligence reviews for companies and investors, pre-litigation and litigation analyses and assistance, and design-around analyses and advice.

His JD is from the Santa Clara University School of Law.

Vincent Pisano joins from Paul Hastings as a partner in New York. He focuses on securities and mergers & acquisitions matters. He has significant experience representing corporations and investment banks in their public and private offerings, US & international transactions, initial public offerings, high yield debt offerings, special product development and leveraged buyout and other acquisition financings.

He is a graduate of the St. John’s University School of Law.

K&L Gates LLP is a US law firm with over 1700 attorneys worldwide, and is ranked as the 10th largest law firm in the world.

K&L Gates Brings on New Partners

Erik Even — Wed, 22 Jul 2009 17:37:03 +0000

K&L Gates has announced the addition of two partners.

Wilson Chu joins in Dallas from from Haynes and Boone, where he will concentrate his practice on mergers & acquisitions and private equity transactions. Chu represents clients in a broad range of industries, including the Internet, software, information technology, and health care. He is highly regarded for his M&A work on behalf of the American Bar Association’s Mergers & Acquisitions Committee. His JD is from the Southern Methodist University Dedman School of Law.

Roger Crane joins in New York from Nixon Peabody. He focuses his practice on complex commercial litigation for banks, venture capital, investment bankers, brokerage firms, real estate owners, developers, contractors, multinational corporations, accounting firms, telecommunication companies, biotechnology firms, and law firms. His JD is from the Fordham University School of Law and his LL.M from New York University School of Law.

K&L Gates LLP is a US law firm with over 1700 attorneys worldwide, and is ranked as the 10th largest law firm in the world.

Squire Sanders Partners with El-Khoury

Erik Even — Tue, 14 Jul 2009 21:05:29 +0000

Cleveland, Ohio’s Squire Sanders has partnered with Riyadh, Saudi Arabia’s El-Khoury & Partners, as part of an effort to expand into the Middle East and North Africa.

Founded in 2005, El-Khoury has offices in Riyadh and Beirut, and employs lawyers fluent in Arabic, English and French.

The Saudi firm focuses on mergers and acquisitions, finance, communications, private/public partnerships, privatizations, energy, environmental law and international dispute resolution.

In April, Squire Sanders laid off 32 lawyers, including seven in Cleveland.

Founded in 1890, Squire, Sanders & Dempsey LLP has 32 offices in 15 countries across the globe.

Morgan Lewis Brings on Team from Bingham McCutchen

Erik Even — Wed, 17 Jun 2009 19:45:30 +0000

Morgan Lewis has brought on five partners and six associates from Bingham McCutchen’s banking & leveraged finance group, including a former co-chair of the practice.

All 11 will join Morgan Lewis’ Boston-based Business and Finance Practice, which spans the United States, Europe, and Asia, with nearly 400 transactional lawyers who focus on a wide variety of areas, including finance, bankruptcy and restructuring, mergers and acquisitions, private equity, and capital markets.

Robert A. J. Barry joins as partner; he focuses his practice on the structuring and restructuring of domestic and international financing transactions. He received his JD from Villanova University School of Law in 1987.

Partner Jonathan K. Bernstein’s practice focuses on general corporate finance, including debt financing, structured financing, workouts, and bankruptcies across numerous industries, including energy, transportation, media, sports and numerous national and regional restaurant chains. He received his JD, cum laude, from the University of Pennsylvania Law School in 1987.

Sula R. Fiszman joins as partner; she represents financial institutions, private equity funds, and other companies in complex senior secured finance transactions, subordinated and second lien lending transactions, structured finance, workouts, and bankruptcies. She received her JD cum laude from Harvard Law School in 1984 and her MA from the University of Chicago in 1981.

Patner Matthew F. Furlon represents leading financial institutions and borrowers in a broad range of finance and business matters, including domestic and international debt, mezzanine and equity financing, debt restructurings, asset-based credit facilities, second lien credit facilities, acquisition finance and retail finance, and multinational credit facilities. He got his JD magna cum laude from Boston College Law School in 1994.

Sandra J. Vrejan joins as partner; she focuses her practice on a broad range of domestic and international commercial finance, secured transactions, and financial restructurings. She received her JD from Hofstra University School of Law in 1995.

Philadelphia-based Morgan, Lewis & Bockius LLP is a law firm that was founded as Morgan & Lewis in 1873. It has 1,400 lawyers in 22 offices worldwide.

Greenberg Traurig Launches London Office [Update]

Erik Even — Tue, 16 Jun 2009 17:20:15 +0000

Greenberg Traurig has launched a London office, a new UK firm called Greenberg Traurig Maher LLP.

Paul Maher joins from Mayer Brown as founding member and office chair. He will also co-chair the firm’s global mergers & acquisitions practice.

Greenberg Traurig LLP is an international, full-service law firm with more than 1,800 attorneys and governmental affairs professionals in the US, Europe and Asia. The firm was selected as the 2007 USA Law Firm of the Year by Chambers & Partners.

UPDATE

Two additional Mayer Brown partners, corporate partner Fiona Adams and European environment head Cate Sharp, will join Maher in London. Sharp and Adams will be co-managing partners of the London office.

Top Skadden Partners Head to Kirkland & Ellis

Erik Even — Fri, 15 May 2009 16:21:40 +0000

Two key partners at New York’s Skadden have jumped ship to Kirkland & Ellis.

David Fox is leaving after more than 20 years with Skadden. He is joined by Daniel E. Wolf.

According to Fox:

Daniel and I are energized by this unique opportunity to grow our practices. While we will always fondly remember our time at Skadden, we are very excited by the prospect of collaborating with the many talented lawyers at Kirkland to take its M&A practice to the next level.

Kirkland & Ellis LLP is a Chicago-based law firm that practices in the US and internationally. As of 2008, it was the seventh largest law firm in the US and the 11th largest in the world by revenue. It has offices in New York, Washington DC, Los Angeles, San Francisco, London, Munich, Hong Kong, and Palo Alto.

Gleiss Lutz Opens New Office with Baker & McKenzie Partner

Erik Even — Thu, 14 May 2009 18:14:36 +0000

Germany’s Gleiss Lutz will launch a new Dusseldorf office in August, headed by corporate partner Thomas Menke, last of Baker & McKenzie.

Menke handles international mergers & acquisitions and real estate transactions.

He will work with an unnamed associate, formerly of Freshfields’ Dusseldorf office.

Gleiss Lutz is a German law firm founded in Stuttgart in 1949 by Alfred Gleiss. It is one of the biggest independent full-service law firms in Germany, and advises companies and groups in Germany and abroad, as well as public authorities.

Miller Canfield Opens New Mexico Office — That Is, a New Office in Mexico

Erik Even — Fri, 17 Apr 2009 16:49:04 +0000

Miller Canfield announced it is launching an office in Monterrey, Mexico, which is that nation’s automotive manufacturing and business center.

The office will focus on mergers & acquisitions, joint ventures, corporate and commercial transactions, labor & employment, tax, litigation and intellectual property law.

The Miller Canfield Mexico Practice Team is led by Alberto J. Murga, Otto H. Sampogna and Michele M. Compton. The team will be supported in the US by a team of lawyers with expertise in Mexican and international transactions and disputes, led by Richard A. Walawender.

Miller, Canfield, Paddock & Stone was established in Detroit in 1852 and has offices in Michigan, Illinois, Florida, New York, Canada, Poland, Mexico and China.

Wolf Block Finance Group Headed to Blank Rome

Erik Even — Thu, 02 Apr 2009 22:00:11 +0000

David Gitlin, finance partner and chairman of dissolving Wolf Block’s corporate and securities practice, is leading a group to the New York office of Blank Rome.

Gitlin will join the firm as a partner in its mergers & acquisitions and private equity group. He brings with him associates Ephraim Schmeidler and Shaun Snitman.

Gitlin’s practice is focused on corporate acquisitions and divestitures, venture capital and technology development and corporate finance work.

All three attorneys received their law degrees in Israel and are licensed to practice in that country. Blank Rome has an Israel client services group, led by partner Paul Schieber.

Blank Rome LLP is the 84th largest law firm in the US according to the AmLaw 100. It employs about 500 at its eight offices in the US and Kong Kong.

Nixon Peabody Launches South Asian Practice

Erik Even — Fri, 06 Mar 2009 19:31:15 +0000

Nixon Peabody has launched a new 23-lawyer South Asia practice.

The practice will advise the firm’s South Asian clients on banking & capital markets, mergers & acquisitions, the Foreign Corrupt Practices Act, intellectual property, and labor & employment.

Anjali Chaturvedi will lead the group from the firm’s Washington office.

Chaturvedi says the group includes a number of people of South Asian ancestry, which gives the firm a unique advantage in terms of language and cultural sensitivities to the region.

In January, the firm launched an Israeli practice.

Nixon Peabody LLP is one of the largest law firms in the United States, with offices in 17 cities in the United States and one in London, and more than 700 lawyers in 25 major practice areas.

Hogan & Hartson’s Revenue and Profits Down

Erik Even — Sat, 28 Feb 2009 18:53:53 +0000

Hogan & Hartson’s revenue and profits fell flat in 2008, after a record year in 2007.

The firm’s gross revenue rose 4.8% to $922.5 million, but the firm’s revenue per lawyer fell 2% to $833,000. Hogan’s profits per partner fell 1.69% to $1.17 million.

In 2007, the firm reported gross revenues of $880 million and profits per partner of $1.19 million.

The boom in business in 2007 was driven largely by merger & acquisition work, which fell off dramatically at the end of 2008.

Hogan gained 7% in total lawyer headcount in 2008, up to 1,107.

This month the firm offered voluntary buyouts to 240 staff members.

Hogan has also pushed back the start date for this year’s incoming associate class to November 30th.

Founded in 1904, Hogan & Hartson is the oldest major law firm headquartered in Washington, DC. It is a global firm with more than 1,100 lawyers in 27 offices worldwide, including offices in North America, Latin America, Europe, the Middle East, and Asia.

Via BLT.

Profits Down at Moore & Van Allen

Erik Even — Fri, 06 Feb 2009 00:41:50 +0000

Gross revenue at Charlotte, North Carolina Am Law 100 firm Moore & Van Allen edged up 1.5% to $164.5 million.

But the addition of 25 new lawyers, including five equity partners, meant revenue per lawyer and profits per equity partner took significant hits. Revenue per lawyer fell by 7.5% to $575,000, and profits per equity partner dropped 14.5% to $805,000.

Firm chair Ernie Reigel says Moore & Van Allen’s finance and mergers & acquisitions practices have been hit hard by the economic downturn

Moore & Van Allen also laid off lawyers, as well as staff, between 5 and 10% from each group.

Bingham McCutchen is #1 on Fortune’s 25 Top-Paying Companies

Erik Even — Thu, 29 Jan 2009 18:42:08 +0000

Boston’s Bingham McCutchen is not only Fortune Magazine’s #1 top-paying company, it’s also on their 100 Best Places to Work.

For the second year in a row, this law firm is the top-paying Best Company to Work For. Lawyers fresh out of school get starting salaries of $160,000 a year, topped off with fat bonuses. (Non-attorneys are eligible for bonuses too.) Bingham, which prides itself on keeping pay scales “competitive at all times,” looked at compensation at other law firms in mid-2007 and immediately boosted pay a hefty 20%.

Bingham, which enjoyed a lengthy growth spurt fueled by a series of mergers, pulled in its horns a bit after the financial crunch hit last year. The firm laid off 2.5% of staff, offering severance ranging from four weeks’ to six months’ pay.

I’d check the rest of the list to see if there are more law firms, but it’s one of those idiotic, unnecessary “slide shows,” and I don’t have the time or patience.

The firm has been awarded similar accolades by the San Francisco Chronicle and Boston Business Journal.

Bingham McCutchen LLP is an international law firm with approximately 1,000 attorneys in 11 US offices and three international offices. It represents clients in corporate litigation, cross-border restructurings and insolvencies, financing and securities, government affairs and a wide variety of corporate and technology transactions.

Former DOJ Anti-Trust Czar Returns to Covington & Burling

Erik Even — Wed, 28 Jan 2009 23:01:05 +0000

Thomas Barnett, former head of the Justice Department’s antitrust division, will return to Covington & Burling next week to head its global anti-trust and competition practice.

Barnett led the antitrust division for three years, working on matters like the Delta-Northwest merger and Google’s ill-fated joint advertising agreement with Yahoo. Barnett resigned in mid-November.

Barnett first joined Covington in 1990. He spent 14 years at the firm, rising to become one of several vice chairs in its antitrust group.

In April 2004, Barnett left Covington to become deputy assistant attorney general for antitrust. He was elevated to acting assistant attorney general in June 2005, and was confirmed by the Senate to permanently fill the role in February 2006.

Under Barnett’s watch, the antitrust division secured more than $2 billion in criminal fines against 50 corporations and 91 individuals. That includes one of the largest antitrust settlements in US history, when Barnett’s division extracted $504 million from four international airlines to settle air cargo price-fixing charges.

Washington, DC’s Covington had gross revenues of $467 million and profits per equity partner of $1.175 million in 2007.

Akerman Lawyers Found Florida Office for Novak Druce

Erik Even — Wed, 28 Jan 2009 18:30:26 +0000

Intellectual property boutique Novak Druce & Quigg is opening a new office in West Palm Beach, Florida with six attorneys it poached from Miami-based Akerman Senterfitt’s intellectual property practice.

The 60-attorney Novak Druce has locations in San Francisco, Washington and Houston.

The six attorneys leaving Akerman made up the core of the firm’s IP practice. J. Rodman Steele, Gregory Nelson, Jerold Schneider and Joseph Bain are joining Novak as senior partners, while John Vetter is joining as a partner and Gregory Lefkowitz is joining as a senior associate. All six worked in Akerman’s West Palm Beach office.

Steele founded Akerman’s IP practice more than 20 years ago, and Schneider is currently the co-chairman of its IP litigation practice. Bain and Nelson also have held leadership positions.

The departure of its IP group is the latest problem for Akerman, which had a difficult 2008. Merger talks with Phillie’s Wolf Block broke down in September. Several attorneys were laid off from the firm in November.

It did, however, serve as lead counsel for the $11 billion merger of two waste management companies at the end of 2008.

Novak’s West Palm Beach office will open on February 2nd.

What’s to Become of Wyeth Counsel in Pfizer Merger?

Erik Even — Wed, 28 Jan 2009 17:16:18 +0000

Brooklyn pharmaceutical giant Pfizer recently announced that it will acquire rival Wyeth for $68 billion. Pfizer will cut more than 8,000 jobs in the merger, and in anticipation of cholesterol drug Lipitor losing patent protection in 2011.

Now the Legal Intelligencer reports that Pfizer has been trimming its outside counsel, and that Wyeth counsel are unsure of their futures.

Pfizer Inc. has made no secret of its intentions to slash thousands of jobs once a planned merger with pharmaceutical competitor Wyeth goes through, but it may be too early to tell how Wyeth’s 300-person worldwide legal department will be affected.

What does seem clear is the effect a merger would have on Wyeth’s outside counsel.

In 2006, Pfizer went through a dramatic paring down of its outside firms, reducing the number by 80 percent in what it called its P-3 program, or Pfizer Partnering Program…

Wyeth, on the other hand, still employs hundreds of outside law firms…

One source familiar with the deal said Wyeth is far behind Pfizer in this process and, given that Pfizer is the acquirer, it may pass down some of its methods for managing outside counsel onto Wyeth.

“Outside counsel will be impacted at some point,” the source said.

Read the article.

White & Case Grows in Mexico

Erik Even — Mon, 26 Jan 2009 23:57:33 +0000

Despite the global economic meltdown’s effects in Mexico, New York’s White & Case is growing strongly in the country and expects to continue doing well.

The firm boosted its Latin America business by at least 20% last year and expects continued growth this year.

”We were very satisfied,” said Victor Alvarez, head of the Latin America practice at White & Case. “Generally speaking we probably increased overall revenue in Latin America by 20% – and that’s probably a conservative estimate.”

In Brazil, the top market in Latin America, the firm had a strong performance in capital markets and mergers & acquisitions.

White & Case jumped eight spots on the latest ranking of Latin America’s Top 25 Legal M&A Advisors from Latin Business Chronicle and Thomson Reuters. Its fifth place was due to advising in 14 deals with a rank value of $17.8 billion, a dramatic increase from the $5.1 billion rank value in 2007. The firm’s top M&A deals include being an adviser for Telemar’s $3.0 billion acquisition of Brasil Telecom, the ninth-largest M&A deal last year.

More London Layoffs: 20 Associates at Baker & McKenzie

Erik Even — Fri, 23 Jan 2009 17:44:39 +0000

Baker & McKenzie has made “up to” 20 associates redundant in the London office, according to The Lawyer.

All of the 285 support staff and secretaries in the City of London office have been told their jobs are on the line, although the firm would not confirm how many would be laid off.

Most of the associate jobs losses were in the corporate practice. The affected lawyers were offered two months severance pay.

The City office has been hit harder than the US practice because a larger portion of its revenues come from M&A activity.

At the start of the year, Baker & McKenzie laid off six associates in New York because of the economic meltdown.

Via The Lawyer.

Neal Gerber Fires Attorneys

Erik Even — Fri, 16 Jan 2009 18:24:41 +0000

Chicago’s Neal, Gerber & Eisenberg, a 200-lawyer firm specializing in real estate, litigation and mergers & acquisitions, has cut attorneys following annual performance reviews.

The firm this month cut ‘fewer than 10 attorneys’ across various practice groups, according to Jerry Biederman, the firm’s managing partner. He should hire a second grader who can actually count to ten, so we can know how many people got axed.

Biederman left open the possibility that the firm may have to make additional cost reductions if the economy continues to sour and negatively impacts law firm work. But the new Obama Administration’s proposed stimulus could accelerate companies’ disposal of real estate and other assets, and thereby boost transactional work.

The Obama Administration and its legislative priorities may also spur more work for law firms in practice areas related to healthcare law and labor unions and organizing, Biederman said.

Wildman, Harrold, Allen & Dixon, another Chicago firm with about 200 attorneys, said last week that it was cutting 10 attorneys, including five income partners and five associates.

Via Law.com.

FTC Exec to Join Wilson Sonsini

Erik Even — Thu, 15 Jan 2009 18:53:15 +0000

Lydia B. Parnes, director of the Bureau of Consumer Protection at the Federal Trade Commission, will ankle the agency after 27 years to join the Washington, DC office of Palo Alto, California’s Wilson Sonsini Goodrich & Rosati, as part of their consumer regulatory practice.

FTC Chairman William Kovacic has tapped Eileen Harrington, the bureau’s deputy director, to serve as acting director. The Bureau of Consumer Protection enforces consumer protection laws and trade regulation rules, investigates business practices, sues law violators, develops rules to protect consumers and provides consumer and business education.

As Bureau director, Parnes helped lead many of the bureau’s efforts, including the National Do Not Call Registry and the Telemarketing Sales Rule.

Wilson Sonsini Goodrich & Rosati is a leader in the fields of corporate governance & finance, mergers & acquisitions, private equity, securities class action litigation, employment law, intellectual property, and antitrust. It has offices in Austin, New York, Palo Alto, San Diego, San Francisco, Seattle, Shanghai, and DC.

Jones Day Takes a Run for The Border

Erik Even — Tue, 13 Jan 2009 18:21:05 +0000

Cleveland’s Jones Day, the nation’s second largest law firm, is absorbing Mexico City’s De Ovando y Martínez del Campo, to create the firm’s first Latin American office.

Eight partners and 12 associates from the Mexican firm are being integrated into Jones Day, and Fernando de Ovando will serve as the partner in charge of the new office. Jones Day has been collaborating with De Ovando y Martínez del Campo on a variety of issues for more than 20 years.

The new Mexico City office will focus on cross-border mergers and acquisitions, finance and infrastructure transactions, real estate and capital markets.

Jones Day’s Latin America practice team now has about 50 attorneys based in Mexico City; Madrid, Spain; New York; and various other international offices.

With the addition of Mexico City, Jones Days now has 31 offices worldwide.

It’s a Cavalcade of Law Firm Mergers

Erik Even — Thu, 08 Jan 2009 23:30:05 +0000

The National Law Journal is reporting on the current “slew” of mid-sized firm mergers:

In the past week, at least five small and midsize firms have said they are merging or boosting their attorney ranks. New York-based Anderson Kill & Olick announced that it is merging with San Buenaventura, Calif.-based Wood & Bender. Both firms specialize in insurance recovery, and the merged firm will have nearly 100 attorneys.

Denver-based Sherman & Howard announced it is merging with litigation boutique Netzorg McKeever Koclanes & Bernhardt, also based in Denver, as well as with Phoenix-based Mohr, Hackett, Pederson, Blakley & Randolph. The combination will bring Sherman & Howard’s attorney headcount more than 190.

Newark, N.J.-based Sills Cummis & Gross is merging with New York-based Silverberg Stonehill Goldsmith & Haber. The nine additional attorneys from Silverberg Stonehill will expand Sills Cummis’ New York office. Columbia, S.C.-based Nexsen Pruet has scooped up Raleigh, N.C.-based Sanford Holshouser, while Portland, Ore.-based Miller Nash has added four attorneys from Newcomb, Sabin, Schwartz & Landsverk.

We already reported on several recent mergers.

The reason for all the merging is obvious — firms need to save money and find new sources of capital. Combining resources with another firm (or letting them buy you out and calling it a “merger”) is one way to do that — once you’ve already cancelled bonuses, frozen salaries, and extorted money from partners.

Also, what are all these mergers going to do for law firm name bloat? I mean, what’s that new merged Denver firm going to be called? Netzorg Mohr Sherman McKeever Hackett Howard Koclanes Pederson Blakley Randolph & Bernhardt?

Via NLJ.