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Akin Gump, Orrick Call Off Merger Talks

By Brian Harris

By Gina Passarella
Of the Legal Staff

After a brief overture, Akin Gump Strauss Hauer & Feld and Orrick Herrington & Sutcliffe have called off their merger discussions.

Word of the discussions came out last week and prompted talk of  a possible resurgence in the law firm merger market.  A spokeswoman for Akin Gump, with 15 attorneys in Philadelphia, issued a joint statement Monday morning.

"Akin Gump and Orrick have mutually agreed to conclude preliminary discussions regarding the possibility of a merger. The firms appreciated the opportunity to have the discussions, which confirmed their mutual respect for one another. However, the firms have determined not to proceed."

This leaves the legal community to watch where the preliminary merger discussions between Reed Smith and Dallas-based Thompson & Knight go. The two firms confirmed Friday that they were in early-stage discussions about a combination. That move would give Reed Smith its long-desired Texas presence and a broader depth in the energy sector.

Consultants have said merger discussions have reached a fever pitch, but whether talks will end up in done deals will largely depend on how firms end the fourth quarter.

Full post as published by The Legal Intelligencer Blog on October 04, 2010 (boomark / email).