Weil Gotshal Is Reportedly Negotiating A Merger, About A Month After Saying It Wasn’t In Merger Talks

For about as long as anyone in Biglaw can remember, Weil Gotshal & Manges has had an unofficial nickname: “We’ll Get Ya & Mangle Ya.” But it may be time to update the the joke to “We’ll Get You and Merge With You.”

Weil is negotiating a merger. Bloomberg Law reported Monday that firm leadership has told certain practice group chiefs that Weil is working out a memorandum of understanding with another firm, which hasn’t been named, according to two people familiar with the situation. An announcement could come as soon as this week, though the sources cautioned that the talks could still fall through. Weil did not immediately respond to Bloomberg Law’s request for comment.

Recall that barely a month ago Weil was very clear on this point. “Weil is not engaged in merger discussions with any firm,” a spokesperson said way back in September when the merger rumors started swirling. The spokesperson added that Weil, like every leading firm, is always looking for ways to strengthen its “platform.”

But let’s be so for real, nobody who has been following along is surprised. Weil has lost more than 25 partners this year. Corporate chair Michael Aiello took five M&A partners to Cravath, a move Weil described as a jump to “a smaller platform.” (And when Aiello left, Weil insiders lined up to tell reporters that his exit was a great opportunity to let Weil be Weil.) Private equity co-head Chris Machera went to Paul Weiss and brought a handful of colleagues. Simpson Thacher hired away a string of private funds partners. London M&A leader David Avery-Gee and corporate partner Sarah Flaherty went to Sullivan & Cromwell, and London finance head Tom Richards is on his way to Simpson Thacher.

The departures are still coming. Michael Hickey, Weil’s former corporate department co-managing partner, is expected to land at Sullivan & Cromwell, and Bloomberg reports that other practice group leaders have been talking to rivals too.

To be fair, Weil is also in the lateral hiring game, notably bringing private equity head Peter Feist back from Cravath, and it rehired Debra Sinclair a decade after she left for Willkie Farr & Gallagher. But a merger may be the faster option.

When Weil publicly said it wasn’t in merger talks, we said we’d see how long that stayed true… which turned out to be about a month.

Earlier: Cravath And Weil Are Just Trading Partners At This Point
Weil’s Revolving Door Now Spins In Both Directions
Weil Get You And… Then Maybe You’ll Go To Cravath
Paul, Weiss Is The Latest Firm To Shop At Weil — See Also
Weil Seeks To Strengthen Its ‘Platform’ As Merger Rumors Swirl
Weil Is Relieved To Lose Its Biggest Rainmaker. Cravath Is Thrilled To Get His ‘Values.’
The Cravath Shade Wasn’t A One-Off: Weil Insiders Line Up To Say Good Riddance
Weil’s Corporate Chair Decamps For Cravath, Which Weil Would Like You To Know Is ‘A Smaller Platform’