We expect to see additional mergers announced in Q4 (although some may not be effective until 2023), and robust activity into next year.
— An excerpt from the latest Fairfax Associates report on law firm mergers in 2022, as detailed in the American Lawyer. The report notes that law firm mergers remain below average, with 37 total mergers through 2022. Kristin Stark, a law firm consultant and principal at Fairfax, explained that recessions can help firms open up to merger possibilities when they perhaps weren’t as receptive beforehand. “There’s a lot of good reasons why firms start to explore mergers in a recession,” she said.
Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter or connect with her on LinkedIn.