Merging giant puts money where mouth is with full financial integration plan
September 13, 2006 at 08:03 PM
1 minute read
The original version of this story was published on Legalweek
Partners at Reed Smith and Richards Butler will stump up around £23m during the next three years as the pair move to secure one of the first major transatlantic mergers to achieve immediate, full financial integration.
The bold move will see the merged firm retain around £23m of profits in the business over a three-year period to cover the move by Richards Butler from the UK ‘accruals’ system to the cash-based regime used by Reed Smith.
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