The last few years have seen precious little domestic merger activity among mid-sized UK firms. The most recent exception was the merger between Addleshaw Booth & Co and Theodore Goddard to create Addleshaw Goddard. But even in that case Theodore Goddard had been in play for a few years and had come close to merger on at least one previous occasion.
There has been more activity between US and UK-based firms, but they still only account for about one transaction a year – the last two being Mayer Brown and Rowe & Maw and Jones Day and Gouldens. However, albeit from a low base, there are the initial signs of increased activity. Two US/UK deals are currently in the public domain. Kirkpatrick & Lockhart is likely to merge with Nicholson Graham & Jones and DLA is in the final stages of its negotiations with Piper Rudnick.
