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Partners discussed several options, including whether the merger should simply consolidate the firm’s existing offering in
No decision has been made although it is understood that the favoured option would be merging with a firm only marginally smaller than itself, rather than with several niche players.
One partner at the firm said: “We are not hellbent on a merger but it is certainly something we are talking about. We want to grow. There are lots of ways of doing that and a merger is the quickest and most dramatic.”
The firm has previously stated its intention to increase its corporate and finance practices in
Camerons managing partner Duncan Weston said: “Any growth options are considered on the basis of CMS growth following our vote earlier this year to converge [our international alliance]. We did not look at any specific law firms but we looked at various types of merger and came to no concrete decisions. We want to be aware of all external growth options including investment, mergers and capital markets and we are investing time to explore those options.”
Following the meeting, which was attended by around 45 partners from the CMS network, the firm set up a group to assess growth opportunities including mergers and any developments that happen as a result of the Legal Services Act. The group will provide regular reports to management.
Jomati consultant Tony Williams said: “There are likely to be opportunities out there in a downturn that were not there when everyone was doing well. A number of