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January 04, 2007


Mark Thierman

Merger talks that fail may be the MO de jure of more than just Orrick. Remember the mess created when Morgan Lewis backed out of the takeover of Brobeck and picked up all the pieces without any of the overhead or debt. The same story with Lord Day and Lord. Typical story: White knight announces 'rescue' of firm doing fine, if not great, but just fine. Then White Knight fails to consummate deal, sending clients and partners of takeover target into panic. Tipping point reached as rain makers depart, and target falls apart, leaving pieces up for grabs for no money except wages for their book of business. No cost for good will, or even paying for long term commitments to landlords, banks, etc. Sounds like a pattern?

China Law Blog

Wow! You certainly make a good case for a pattern here.

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