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The Urge to Merge

By Lawrence N. Mullman and Carl Hopkins

In the midst of the current recession-induced pummeling of law firms and in-house legal departments, some positive changes are occurring that are setting the stage for a stronger industry. One is the quantity and quality of law firm mergers that are being consummated.

Though the second quarter had an anemic showing ' just seven mergers, according to Altman Weil ' it followed a bullish first quarter of 25 mergers. As of mid-September (just before press time), 13 mergers had been recorded for the third quarter. Last year, a record 70 mergers occurred ' 18 in the first quarter, 26 in the second, 13 in the third, and another 13 in the fourth ' a 17% increase over 2007.

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