Is the Magic Circle Becoming the Tragic Circle?

From 1998 through 2001, U.K.-headquartered law firms had astonishingly high growth rates. The last three years have been less kind, and firms are trying to hold on to these gains by the skin of their teeth. The largest and most lucrative mergers and acquisitions deals in Europe are being cherry-picked by U.S. firms, and Europe has seen neither a rise in U.S.-style litigation nor the volume of corporate meltdowns handled by their American counterparts. Partha Bose analyzes who will survive -- and how.

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