Graphic courtesy of PhillyMag.com.
Summary: Reed Smith has confirmed it is in talks to merge with Philadelphia-based law firm, Pepper Hamilton.
Reed Smith may merge with Pepper Hamilton. The Inquirer reports that both firms confirmed they are in preliminary talks.
Reed Smith is a megafirm with almost 1,900 lawyers with domestic and international offices. They have one branch in Philadelphia with 140 attorneys. According to Lawcrossing, “Reed Smith represents many of the world’s leading companies in complex litigation and other high-stakes disputes, cross-border and other strategic transactions, and crucial regulatory matters.”
Pepper Hamilton is located in Philadelphia. It has 500 lawyers and has a reputation for high-end litigation, representing white-collar and corporate defendants. A few year ago, FBI director Louis Freeh took over as chair and Thomas Gallagher succeeded Freeh in 2014.
Thomas Gallagher, chair of Pepper Hamilton. Photo courtesy of Philly.com.
Because of Reed Smith’s size and reach, they are more than likely to engulf the Pepper Hamilton firm, which lacks a global presence. However, Pepper Hamilton not only has a strong track record when it comes to white-collar defense, The Inquirer said it “has a reputation for innovation,” which makes it a valuable collaborator. For instance, in 2012, Pepper Hamilton appointed Scott Green, a Harvard MBA, to oversee strategic planning. His appointment gained attention in the legal world, as it is not customary to give a non-lawyer firm management authority. He has since left.
Altman Weil, a legal consulting firm, stated that law firm mergers and acquisitions reached a record last year with 91 occurring at firms across the country.
Source: The Inquirer