Law partners made an approval on a merger between political powerhouse Patton Boggs LLP and global law group, Squire Sander --- a deal which provides Patton Boggs an escape from its recent financial troubles.
The merger creates a law firm population of over 1,600, to be named Squire Patton Boggs, with more than 40 offices worldwide.
During the time when the need for legal services is still at slack, larger law groups are opting for mergers to increase profits and explore new markets. But such mix also has potential risks. The integration on hundreds of attorneys and staff entails a lot of money and time.
The merger maintains the Beltway brand and will increase Squire Sanders’ domestic status.
Squire Patton Boggs would be one of the 25 biggest international law groups in terms of head count with a combined gross profit of $1.05 billion.
The merger is purposely done to give partners of Patton Boggs an extended platform and aid the Beltway group’s troubling finances, while adding depth to Squire Sander’s lawyers with expertise on public policy, defense work, and dealings.
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