Kennedys and Plexus rule out merger as news of talks emerges

Kennedys and defendant insurance firm Plexus Law held talks over a merger earlier this year, sources close to the firms have told Legal Week.

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<a href="http://www.almcms.com/contrib

Carroll Mcnulty Kull

/uploads/sites/378/2017/09/Kennedys.jpg"><img class="alignleft size-full wp-image-67253" src="http://www.almcms.com/contrib

Carroll Mcnulty Kull

/uploads/sites/378/2017/09/Kennedys.jpg" alt="" width="616" height="372" /></a> Kennedys and defendant insurance firm Plexus Law held talks over a merger earlier this year, sources close to the firms have told <em>Legal Week</em>. While both firms��dismissed the prospects of a deal �� <a href="http://www.rollonfriday.com/Blogs/ReadBlog/tabid/144/id/38478/Default.aspx">as reported by RollOnFriday earlier this week</a> �� former partners say that discussions��took��place around six months ago. A source with knowledge of the matter��said: ��I certainly heard that Kennedys were in talks to buy Plexus. It has looked clear to me that Plexus have been getting ready for a sale, and Kennedys was the name of which I was made aware. I heard about those talks inside the last��six months.�� A��former Parabis partner confirmed this, saying that they��were aware of talks between the two firms ��between six and seven months ago��. A spokesperson for Kennedys said: ��We are approached by laterals, teams and firms regularly but we can confirm that Kennedys is not purchasing or in any way merging with Plexus.�� A Plexus spokesperson added: ��The firm is not is discussion with Kennedys.�� Kennedys has been in acquisitive mode of late, <a href="http://www.legalweek.com/sites/legalweek/2017/06/28/kennedys-posts-8-revenue-rise-as-top-line-nears-150m/">taking over eight-partner Manchester firm Berg on 1 September</a>, on the back of <a href="http://www.legalweek.com/sites/legalweek/2017/05/04/kennedys-seals-us-merger-with-100-lawyer-insurance-firm/">a merger with 100-lawyer US insurance firm Carroll McNulty & Kull</a> in June. Plexus, meanwhile, has had an eventful few years following the collapse of parent company Parabis in 2015.��As part of the break-up of Parabis, <a href="http://www.legalweek.com/sites/jamesbooth/2015/11/11/parabis-founders-lead-deal-to-buyout-plexus-and-greenwoods/">Plexus��was sold to a consortium of investors led by Parabis founders Andrew McDougall and Tim Roberts</a> in November 2015,��following <a href="http://www.legalweek.com/sites/jamesbooth/2015/11/11/keoghs-talks-to-buy-plexus-law-called-off/">unsuccessful talks over an acquisition by insurance rival Keoghs</a>. At the same time,��<a href="http://www.legalweek.com/sites/jamesbooth/2015/11/06/plexus-partners-face-two-year-lock-in-as-30-strong-team-leaves-group/">Plexus��partners were��asked to agree to a two-year lock-in</a>. Those agreements are set to expire this November or in May next year "for capital reasons��, according to one ex-partner. Kennedys already has a number of former Plexus lawyers among its ranks. In March 2015, the firm took on a��13-lawyer travel team led by partners��Claire Mulligan and Justin Collins. <

Carroll Mcnulty Kull

> Knitter: Too few entities/relations are generated compared to number of concepts (only 96% (31/32) concepts are converted).

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