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Most mergers fail. Not just law firm mergers, mind you, but most mergers period. Studies cited in the Harvard Business Review peg the failure rate between 70 and 90 percent, a staggering figure when one considers the amount of time, energy and capital that is invested in M&A. Failure in this context, of course, does not mean that the deal results in bankruptcy, but that the merger fails to realize the anticipated benefits, namely growth and improved efficiency.
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