Troutman Pepper and Locke Lord in Merger Talks

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Troutman Pepper Hamilton Sanders and Locke Lord, two prominent U.S. law firms, have confirmed they are engaging in discussions about a potential merger, marking what could be the largest law firm combination of the year.

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Firm Statements

In nearly identical statements, representatives from both Troutman Pepper and Locke Lord acknowledged the ongoing discussions about a potential merger. They emphasized their commitment to providing exceptional legal services to their clients but refrained from offering further details at this time.

  

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Overview of the Firms

Troutman Pepper, the larger of the two firms, boasts a workforce of over 1,100 lawyers spread across 22 cities in the United States. Formed from the merger of Troutman Sanders and Pepper Hamilton in 2020, the firm reported approximately $1.08 billion in gross revenue in 2023.

On the other hand, Locke Lord, with a revenue of about $497.6 million in the same year, has a history of growth through mergers. It currently operates with over 500 lawyers across 20 global locations, following its most recent merger with Edwards Wildman in 2015.

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Increasing Merger Activity

The potential merger between Troutman Pepper and Locke Lord comes amid a surge in law firm combinations in 2024. According to legal consultancy Fairfax Associates, there has been a 25% increase in merger activity during the first quarter compared to the same period in 2023. This heightened activity is expected to persist throughout the year.

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Notable Mergers

The legal landscape has witnessed several significant mergers recently. Among them is the forthcoming merger between UK-founded Allen & Overy and New York-founded Shearman & Sterling, set to take effect on May 1. This merger is anticipated to create a powerhouse law firm boasting over 3,900 lawyers across 48 offices.