Mergers can be difficult, risky and expensive. So why do so many law firms contemplate them? Most would say they’re hoping to achieve a competitive advantage or find a quick fix to a perceived need. Mergers often help firms realize their strategic objectives. However, if not done for the right reasons, they can be a source of frustration and lead to a firm’s demise. THE RIGHT REASONSA good place to look for the right reasons is your firm’s strategic plan. For instance, a merger may make sense if your firm wishes to:Add experience and depth to an established practice area. Offering clients expanded capabilities is a great way to keep their business and increase your billings. For example, suppose by way of a merger you’re able to increase the size of your intellectual property practice and expand your firm’s patent infringement services. This could be important to existing and prospective clients when retaining a firm. Increase specialization. A … [Read more...] about Law Firm Mergers: To Merge or Not to Merge? That is the Question!
Hyper v merge in progress
On December 14, 2011, FERC rejected a merger mitigation proposal (Mitigation Proposal) submitted by Duke Energy Corporation (Duke Energy) and Progress Energy, Inc. (Progress Energy), finding the Mitigation Proposal inadequate to remedy the adverse effects of the companies’ proposed merger on competition in the Carolinas markets. Duke Energy Corp., 137 FERC ¶ 61,210 (2011). FERC had issued an order conditionally accepting the merger on September 30, 2011 (Merger Order). Duke Energy Corp., 136 FERC ¶ 61,245 (2011). The merger remains conditionally accepted, and Duke Energy and Progress Energy may submit a revised mitigation proposal.Under their Mitigation Proposal, Duke Energy and Progress Energy proposed a “virtual divestiture” option suggested by FERC in the Merger Order. The virtual divestiture consisted of a must-offer obligation to sell specific quantities of energy at cost-based rates to entities that serve load, directly or indirectly, in the Duke … [Read more...] about FERC Rejects Duke-Progress Merger Mitigation Plan
Justice Elizabeth Heneghan dismissed a legal challenge by Sinclair Stevens, who claimed the Progressive Conservative Party was dissolved illegally when it merged with the Canadian Alliance to form the Conservative Party of Canada in December 2003. Mr. Stevens argued that Canada’s Chief Electoral Officer erred in approving the merger and changing the registry of political parties without soliciting submissions from those who opposed the merger, and without conducting an investigation and making a legal determination on whether or not the process for merger adhered to the old Progressive Conservative Party’s constitution.The court dismissed the application in its entirety finding no material errors on the part of the Chief Electoral Officer in accepting the merger. Furthermore, Justice Heneghan noted that the merger had been approved by party members in a democratic vote and confirmed that neither the Chief Electoral Officer nor the Canada Elections Act regulate the internal … [Read more...] about Federal Court Dismisses Application to Resurrect Former Progressive Conservative Party
A New York City-based law firm known for its insurance coverage work is in merger talks with a London counterpart.Chadbourne & Parke’s managing partner says the firm is discussing a possible combination with Watson, Farley & Williams, reports American Lawyer. The two firms have about 400 and 200 attorneys on their respective rosters. Watson, Farley’s areas of expertise include energy, finance and maritime matters.Although Chadbourne has been looking for a merger partner at least since last fall, this is the first time that talks have progressed to a point where a potential marriage prospect was named, the magazine says. Meanwhile, several partners have departed recently, including Abbe Lowell, a white-collar defense lawyer who left in April to join McDermott Will & Emery. … [Read more...] about Chadbourne, London Firm to Merge?
Preparatory work to merge five Northamptonshire councils into one large super council for the north is moving very slowly, according to a chief executive involved. Senior officers and elected council leaders have met many times since September to try to thrash out the details behind plans for a new unitary council for North Northamptonshire which is proposed to be created by May next year.The move would see the district and borough councils at Corby, Wellingborough, East Northamptonshire and Kettering, as well as Northamptonshire County Council, scrapped and all services such as social services, waste collection and planning provided by one single organisation.But according to the chief executive of East Northamptonshire Council (ENC) David Oliver, putting together a plan for what needs to be done has not been moving at pace. In a report to go before a transformation committee tomorrow (Jan 16), Mr Oliver, who has been the top officer at ENC for more than a decade, said: … [Read more...] about ‘Slow progress’ on work towards council restructuring in north Northants