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Major News in the Global Legal Market: Welcome, Herbert Smith Freehills Kramer! In an exciting development for the legal industry, Herbert Smith Freehills is joining forces with US-based Kramer Levin Naftalis & Frankel LLP to establish Herbert Smith Freehills Kramer — a new powerhouse among the top 20 global law firms by headcount. With over 2,700 lawyers across 25 offices spanning the US, UK, Europe, and Asia, HSF Kramer is set to bring a robust, integrated approach to clients worldwide. This merger reflects the ongoing consolidation trend among mid-sized transatlantic firms, bolstering cross-border capabilities and client offerings. Herbert Smith Freehills, already known for its UK-Australian alliance, is making a strong strategic move here — joining a wave of recent mergers in the sector, including Allen & Overy’s landmark union with Shearman & Sterling. This marks a significant step toward an increasingly interconnected global legal landscape. Congratulations to both firms on this transformative journey! #lawfirms #mergers #hsf #kramer

Eversheds Ireland in Talks with William Fry for Major Merger Eversheds’ Irish branch is reportedly in early discussions with William Fry, one of Ireland’s leading law firms, about a potential merger. If the deal goes through, Eversheds’ team of 40 partners and 82 lawyers would join William Fry’s 200-strong workforce, creating a major force in Ireland’s legal market, according to The Global Legal Post. Eversheds currently operates in Dublin and Belfast, having entered Ireland in 2005 through an alliance with O’Donnell Sweeney. The firm strengthened its position in 2022 by merging with Kenny Solicitors, focusing on real estate and corporate law. Ireland’s legal market continues to expand, fueled by the presence of global giants like Google, Meta, and Microsoft, all of which have their European headquarters in Dublin. Financial institutions have also grown their Irish operations post-Brexit, further boosting the country’s significance in the legal world. #LegalNews #LawFirms #MergersAndAcquisitions #IrishLaw #Eversheds #WilliamFry #LegalIndustry #CorporateLaw #RealEstateLaw #IrelandBusiness #BrexitImpact

Big news from the Irish legal market as it emerges that Eversheds Sutherland's offices there are in early-stage talks with leading independent William Fry to join the firm. As Victoria Basham writes: "The deal would be something of a landmark in the Irish market, marking what GLP understands is the first time an international firm's practice has joined an independent Irish firm. Usually, the tide has gone in the other direction, with some of the international firms that have flocked to Ireland in recent years electing to enter the market or grow in it through a merger with a smaller local outfit."  Read our coverage of this story by clicking here: https://lnkd.in/gn9sgXBN #legalnews

Commercial Corner: Law Firm Mergers 💥 This week, we’re discussing one of the most significant developments in the legal world this week: the merger of Herbert Smith Freehills and Kramer Levin. Mergers are about survival and growth in an increasingly global and competitive landscape. Law firms are no longer just competing in their home markets. As a result, clients demand seamless, cross-border services. This merger is a strategic leap into the U.S. market for HSF. Kramer Levin, meanwhile, gains access to a worldwide network, instantly boosting its reach. Together, they’re positioned to handle the complex legal landscape. But mergers aren’t just about higher profit margins or more office locations. They also present challenges such as integrating cultures, aligning business models, and maintaining a coherent identity. Stay tuned next week as we explore more commercial trends shaping the legal industry. As always, read more from the links below: ⚡ https://lnkd.in/eqyeSy2m ⚡ https://lnkd.in/eV8hqgtT ⚡ https://lnkd.in/ei5Cj4wv #CommercialCorner #HSFKramer #GlobalLegalTrends #LawFirmMergers

In the ever-evolving world of law, the industry has shown remarkable resilience. This resilience highlights the overall strength and success of the sector in navigating challenges and seizing opportunities. Our latest research offers a comprehensive look into how law firms are adapting to the dynamic business environment, demonstrating innovative strategies and forward-thinking approaches. These insights reveal the creative manoeuvres of firms as they continue to thrive amidst change. - Allen & Overy LLP merged with Shearman & Sterling in May 2024, creating the mega firm A&O Shearman - Radcliffe Lebrasseur was acquired by Weightmans in October 2023. - Mishcon de Reya LLP acquired Taylor Vinters in January 2023. - Solaris Law acquired Shoosmiths' business-to-business recoveries division in a private equity-backed merger in 2024. Explore the full article here: https://hubs.la/Q02ShJxN0 As you delve into the full article, consider how these findings might relate to your own experiences or observations in the legal field. How do you perceive the current trends and challenges facing law firms today? Are there particular strategies or innovations you're seeing that are leading to success? Share your thoughts and join the conversation. We would love to hear your perspective! Discover more about Atlas by Codex Edge and how it empowers smarter decisions with data-driven intelligence. Interested in learning more? Schedule a meeting with us here: https://hubs.la/Q02ShFM20 ATLAS by Codex Edge Enabling Smarter Decisions with Data-Driven Intelligence #LawFirmMergers #LegalTrends #UKLaw

This looks like a logical move. HSF is primarily an Australian/UK centric firm with less US presence. Kramer Levin is only US with a sophisticated NY centric practice. They are both true partnerships. There are a few other NY centric firms that are good opportunities for foreign law firms, so this isn't the last merger in this category.

This trend is set to continue as we see increasing consolidation take place across the sector. The Solaris deal is particularly interesting. The opportunity to acquire specific divisions or Practice Areas in specific locations will likely increase in appeal as Private Equity and other investors/owners seek efficiency gains, and sustainable bottom line growth. Watch this space...

Leading law firms are advising on fewer deals, but the combined value of the transactions is larger as worldwide #mergers and #acquisitions activity increased during the first quarter of 2024. The total value of global announced M&A deals in the first quarter was $797.6 billion, a 38% increase compared to the same period last year and the 'strongest opening period for deal making since 2022,' the London Stock Exchange Group said in its rankings of M&A legal advisers released on April 2. The number of transactions, however, hit a nine-year low this past quarter. More than 10,700 deals were announced in Q1 2024, a 31% drop compared to the same period one year ago. David Thomas has more: https://reut.rs/3VK2Xbl #legalnews #lawfirms

🌍 Global Competition in the Legal Industry 🌍 Over the past few decades, law firms have undergone a remarkable transformation. What was once a locally focused, profitable practice is now a globally competitive landscape. Since the early 2000s, firms based in the U.K. and U.S. have expanded significantly across Europe, Asia, and beyond. The recent Global 200 ranking showcases this shift. Notably, firms like Kirkland & Ellis have seen impressive growth—73% revenue increase in just four years. But it's not just the well-known names making waves. 🚀 Rapid Risers 🚀 Firms like China's Yingke, Willkie Farr & Gallagher, and Holland & Knight have also climbed the ranks, with revenue growth rates matching Kirkland's. All three are now in the Global Top 50, highlighting the shifting dynamics of the legal industry. Other notable risers: ◾ Ropes & Gray ◾ McDermott Will & Emery ◾ Wilson Sonsini Goodrich & Rosati ◾ Gibson Dunn & Crutcher ◾ Quinn Emanuel Urquhart & Sullivan ◾ Milbank 📉 Mergers and Shifts 📉 While mergers have helped some firms rise, such as Troutman Pepper and Faegre Drinker, others like Dentons experienced a drop due to demergers, like the recent separation from China's Dacheng. As we look ahead, firms are navigating more than just local markets—they're vying for dominance on a global scale. The next few years will no doubt continue to shape the landscape of global legal competition. #LegalIndustry #GlobalLawFirms #LawFirmGrowth #LegalTrends #LawFirmRankings Source: Law.com

Global M&A Activity Surges in Q1 2024 Leading law firms report a surge in worldwide mergers and acquisitions activity during the first quarter of 2024, with fewer but significantly larger deals. Here are the key takeaways: - Record Value: The total value of global announced M&A deals reached $797.6 billion, marking a remarkable 38% increase compared to the same period last year. - Transaction Volume: Despite the surge in value, the number of transactions hit a nine-year low, dropping by 31% to over 10,700 deals. - Client Appetite: There's a notable shift as clients show more willingness to engage in high-value M&A transactions, reflecting a trend towards big-ticket items. - Firm Performances: Law firms like Latham & Watkins, Wachtell, Lipton, Rosen & Katz, Skadden, Arps, Slate, Meagher & Flom, and Goodwin Procter showcased impressive performances, with significant involvement in high-value deals. - U.S. Dominance: The U.S. remains a focal point, with a strong start for dealmaking, accounting for 61% of announced deals or those with U.S. involvement. - Outlook: Optimism pervades the M&A markets, especially in the U.S., indicating a robust and dynamic landscape for future dealmaking. The first quarter of 2024 sets a promising tone for M&A activity, demonstrating resilience and potential for substantial growth. Link: https://lnkd.in/e5iGNUnh #MergersAndAcquisitions #LegalAdvisers #GlobalDealMaking #Finance #BusinessGrowth