Barlows is set to ask nearly 10 percent of its partnership to leave if its merger with Clydes is approved by both firms' partnerships. Partners who do join the merged firm will be tied to an 18-month lock-in, during which they will have to pay a financial penalty if they decide to leave.
July 29, 2011 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Barlow Lyde & Gilbert is set to ask nearly 10 percent of its partnership to leave if its merger with Clyde & Co is approved by both firms’ partnerships this week.
Around 10 of Barlows’ 97 partners are expected to be asked to go as part of the terms of the tie-up. Of the remainder, at least 32 are expected to join the equity at the combined firm, compared with a current equity partner count of 64 at Barlows.
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