March 2004

The Birth of the Megafirm – Mergers and Acquisitions

According to Hildebrandt International, over 150 law firm mergers have taken place in the United States and Europe over the past two years; and they predict that as the economy's pace quickens, the pace of business combinations will also increase.  But there's a downside.  Other numbers show that few business combinations ultimately succeed in delivering the value and benefit envisioned.  Consulting firm McKinsey & Co. conducted a study of 193 mergers and found that only 12 percent succeeded in maintaining revenue growth in line with their non-merged peers.  In McKinsey's view, this was because too much emphasis was placed on post-merger cost cutting and too little on revenue generation.

If you are currently going through a merger or acquisition as a buyer or seller – or simply want to be better armed for what may eventually come – read these articles on various facets of M/A and benefit from our five authors’ knowledge and experience.