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Posted on Tuesday, June 24, 2008
LawFuel - The Law News Network
The UK legal market is set for a radical shakeup with over 100 law firms expected to attempt a merger or acquisition in the next 12 months, experts predict.
Commenting on a new survey from BDO Stoy Hayward, Tony Williams, founder of Jomati, a legal consultancy, said: “The legal industry could witness over 100 firms merging in England over the next year, either with regional, national or foreign firms.
“This may sound bullish but market conditions will force as many as 25 per cent of smaller firms to merge, a significant number of very small firms will cease trading and between 10 and 15 per cent of medium-sized firms will also look to merge.”
The BDO research found that 68 per cent of law firms surveyed had discussed a merger with another firm in the past year and 43 per cent expect to be involved in a merger in the next 12 months.
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