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.