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BigLaw: Fulbright and Pillsbury Are Talking
February 17, 2012
Not long ago AboveTheLaw was reporting that Fulbright & Jaworski was busy conducting staff layoffs, while Pillsbury Winthrop was exploring on-shore outsourcing options. Times change and so do priorities. Last week, it was reported that the 2 BigLaw firms may be headed to the altar.
With Fulbright having about 900 lawyers, and Pillsbury having just under 700 lawyers, a merger could result in a "gigantic, global mega-firm," with as many as 1,600 lawyers.
ATL says a deal looks very possible, quoted Casey Sullivan of the Daily Journal, who reported:
"Pillsbury Winthrop Shaw Pittman LLP is said to be in merger discussions with Fulbright & Jaworski LLP, according to three sources working closely with lawyers at the firm.
One source said the discussions are far enough down the line that both firms have made an agreement not to poach lawyers from each other for a certain period of time, which typically happens after financial information is exchanged."
You know that it’s serious when the firms have vowed to cease all partner poaching. Mapping It Out. Fulbright has 17 international offices, and Pillsbury has 15. A post-merger outlook would have 25 to 30 offices - though it's not clear if this would mean an increase in attorneys per office, or further layoffs. Pillsbury reportedly has entertained notions of mergers with other firms in recent years, but this is the most serious thus far. When asked to comment on the rumored merger with Fulbright, James Rishwain Jr., Pillsbury’s chairman, declined. Good Luck to all - particularly the associates! [Above The Law 2/10/12]
