Mergers like Orrick Herrington & Sutcliffe with Paris outfit Rambaud Martel do not come along every day. If, as looks near certain, the San Francisco firm secures the deal, it will be the biggest European trophy the acquisitive firm has ever bagged, by some way.

As one of Paris’ select band of leading M&A independents, Rambaud would also be the best transactional practice to hook up with an international player. A deal would bring with it Jean Pierre Martel’s illustrious contact book, which includes the French Government, BNP Paribas, Gecina and Galeries Lafayette.