Author(s): Kent M Zimmermann, John E Morris

Publication date: May 2022

Format: A4 Softback

Pages: 104

Price: £95.00

ISBN: 9781787428454

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Featuring a foreword by Peter Zeughauser
Reviews

Congratulations! I preordered it. If I wasn’t first, I was close to it months ago; but many others have been waiting for the release too. There is no one (or two) better to guide us on this subject! Gotta go, anxious to read!!!!

- Kevin Joseph Burke, RPC; Adjunct Professor and Lecturer in Law, USC Gould School of Law

Zimmermann and Morris vividly explain the forces behind the rapid consolidation of today’s legal market: how mergers are sometimes a firm’s best response to market pressures and to achieve its strategic goals. The authors outline how to weigh the pros and cons of combining with another firm and how to identify potential merger partners. This practical book offers a wealth of insights about the human issues involved and pitfalls to avoid. Candid interviews with law firm leaders who have successfully merged their firms provide a first-person perspective. The authors succeed in doing all this in a lucid, conversational style.

- Heidi K Gardner, PhD, Distinguished Fellow at Harvard Law School’s Center on the Legal Profession

Mergers and acquisitions of law firms of all sizes have become increasingly common as competition for talent and business intensifies and leading firms dominate the market in size and profitability. Lawyers and law firm leaders contemplating the future of their firms need to understand the changing dynamics of the market, and the ways in which mergers and other combinations may or may not help them fulfil their aspirations. Law Firm Mergers offers both law firm leaders and all partners a way to approach the issues, highlighting the best practices gleaned from successful combinations.

Beginning with an overview of the forces driving consolidation, it discusses how to formulate and get buy-in for a strategy and how to view a merger as a potential vehicle to accelerate progress. It looks at the advantages and disadvantages of combining with other firms, and offers practical insights about the process – from the best ways to identify and evaluate potential merger candidates, to how to approach those firms, to navigating the negotiations, and common deal terms that can bridge differences over crucial factors such as compensation, capital and governance. Beyond the financial and strategic challenges faced by firms evaluating a merger, this title also delves into the cultural and human issues that can make or break a merger, from the best way to handle sticking points in negotiations to the ways in which firm leaders can muster support internally and head off opposition from their own partners.

Full of practical tips and laced with candid, first-hand insights from leaders who have successfully guided their firms through mergers, this Special Report is the essential guide for a successful and prosperous law firm merger.