Summary: The merger talks between Bingham McCutchen and Morgan, Lewis & Bockius have entered into a critical stage, according to sources.
The merger talks between Morgan, Lewis & Bockius LLP and Bingham McCutchen have entered into a critical phase, according to The Wall Street Journal.
According to those familiar with the negotiations, Morgan Lewis has put together a list of two dozen partners from Bingham who need to participate in the discussions if the merger is to succeed.
One of the unnamed sources said that it looks as if all two dozen partners from Bingham are in agreement with the merger, but no documents have been signed yet.
A decision on whether or not to combine could come within the next couple of weeks. The partners from Bingham who participate in the merger would have to contribute capital to Morgan Lewis.
It is not known how many officers and lawyers will be involved in the merger, should it succeed, but client issues always arise in such deals, causing entire practices to leave firms in some instances.
Founded in Philadelphia, Morgan Lewis has 25 offices, with nine more overseas, and employs some 1,350 lawyers.
Revenue at Bingham dropped by 13 percent last year. The firm could be left with less than 750 lawyers across its offices following the loss of its U.K. restructuring practice.