We’re told that the voice mail to shareholders this morning was from Chairman Matthew Larrabee, and that Larrabee said the merger fell through because of conflicts. A source familiar with the firm said it was probably a mix of client and practice conflicts. Most obviously, the firms represent different sides in insurance matters — with Baker representing insurance companies.
Our source says it probably didn’t come as much of a surprise to partners given the complicated nature of the merger. It does seem that there are other merger candidates waiting in the wings and, apparently, not merging is still an option (though it’s unclear how viable an option it is).
We’ll have a story up later today at Cal Law, so stay tuned …
— Niraj Chokshi