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The urge to merge slow downs: expert cites fewer firms available, impact of economic slump.

Publication: San Diego Business Journal
Publication Date: 25-AUG-03
Format: Online - approximately 848 words
Delivery: Immediate Online Access
Full Article Title: The urge to merge slow downs: expert cites fewer firms available, impact of economic slump.(law firms)

Article Excerpt
Since law firm mergers hit an all-time high in 2000, the number has slowed.

U.S. firms completed seven mergers and acquisitions during the second quarter of 2003, according to Hildebrandt International, a leading consultancy to the legal industry. That compares to 11 during the same period last year.

Twenty five firms joined forces during the first half of this year. The final tally likely won't near the 76 mergers that took place in 2000.

Since then, deals have dropped steadily. In 2001, firms reported 69 consolidations. Last year, that number dipped to 53.

The rate has declined for a couple of reasons.

First, intense consolidation in the last five years leaves fewer firms willing and able, said Blane Prescott, a Hildebrandt partner operating in the San...

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