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Maximizing Law Firm Mergers in the Media

By John Corey and Brian Kiefer

Grappling with an unprecedented recession, law firms are merging out of both necessity and opportunity, according to a recent client advisory from Hildebrandt and Citi Private Bank.

In the first quarter of 2009, Hildebrandt reported 33 completed mergers involving U.S.-based law firms, a figure that rose from 22 in the first quarter of 2008. Though merger activity got off to a strong start, Hildebrandt reported that this number dropped to nine in the second quarter of 2009 as law firms began to feel the full thrust of the recession. Law firm deals, however, could rebound again soon as well-capitalized law firms continue to explore growth opportunities created by the current downturn while other law firms seek out white knights.

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