DWF and Cobbetts – how mooted merger became pre-pack takeover in just a year
From the moment Cobbetts last week confirmed plans to call in the administrators, it took little more than 24 hours for DWF to announce its intention to acquire the financially stricken firm in a pre-pack deal. The speed of the deal came as a surprise to many, despite the foundations set 12 months earlier by failed merger talks between the pair – a breakdown the firms attributed at the time to "continuing market uncertainty". But, with the UK economy teetering on the brink of a triple-dip recession, market conditions have hardly improved – so what has changed?
Gerard Starkey looks at the background to the failure of Cobbetts – and how DWF picked up the pieces
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