Reed Smith, Pepper Hamilton End Talks About Merger
BigLaw firms Reed Smith and Pepper Hamilton have ended talks about a possible merger, both firms announced in separate statements.
“Early last week, both firms confirmed they were holding discussions to create a mega-firm that would have nearly 2,500 lawyers worldwide and annual revenue of $1.5 billion,” according to a report by The Pittsburgh Post-Gazette.
Reed Smith has 1,900 attorneys in 27 offices in the U.S., Europe, Asia and the Middle East, but has lost staff in recent months through departures and layoffs, and its financials dipped in 2015 compared with the prior year, the report says.