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The latest MergerLine report shwoed 2015 to have been a record breaking year for law firm combinations in the US, both in terms of the number of join-ups and their size. A total of 91 law firm combinations were recorded over the 12 months to 31 December, eclipsing the previous record set in 2013 of 88. Dentons was the most active firm for combinations, tallying eight over the course of the year, including new partnerships in Australia, Latin America and Asia. The year also boasted the largest ever law firm merger, when the 2,500-strong Dentons merged with Chinese firm Dacheng and its 3,600 lawyers to form the world's largest legal team. Dentons' M&A activity over the course of the year nearly tripled the firm's headcount, with a projected total team of 7,400 lawyers once all 2015 deals are finalised.
2016 outlook
'We expect the market to remain hot in 2016,' says Altman Weil principal Ward Bower, suggesting that combinations will remain a popular tactic for boosting the market share of individual firms amid lacklustre growth in demand. Mr Bower also suggested that the performance of the expanded Dentons' team would likely be barometer for the effectiveness of international super-firms. 'Even within the verein structure, it will be hard for them to create and maintain a unified vision and mission for their brand. The marketplace will be watching with interest to see what comes next.' Sources: Altman Weil; American Lawyer
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