Law firms’ hunger for mergers is on the wane, according to a new survey by accountants Smith & Williamson.
Only 8% of the 75 firms polled are actively seeking a merger, compared to 23% in the previous year.

The number of firms actively making an acquisition is also down from 31% to 17%. Meanwhile, the number of firms that have made or received a merger approach in the last two years also dropped, although it remains high at 77% (down from 83%).