Slater & Gordon confirms Pannone acquisition talks
AUSTRALIAN group Slater & Gordon has broken its silence over its next UK acquisition target, confirming it is in talks with Manchester firm Pannone.
Neither Pannone not S&G have previously commented on the reported deal, which first emerged in late September.
In an update on its strategic plans to the Australia Stock Market today, the firm said: “Slater & Gordon confirms that, consistent with our previously communicated strategy of actively pursuing expansion opportunities in the UK consumer legal services market and in light of recent speculation in the UK media, Pannone LLP is a firm with which we are discussing a potential transaction.
“We will continue to keep the market informed, however at present there is no material development to disclose in relation to a potential transaction with Pannone LLP. We anticipate that discussions with a number of firms including Pannone LLP will continue over the next several weeks.”
Slater & Gordon is not expected to want to take on Pannone’s commercial arm, which is likely to go it alone with dispute resolution partner Paul Jonson at the helm.
The Australian firm entered the UK market last year when it acquired Russell Jones & Walker, and its aggressive deal spree has seen it buy Fentons, Liverpool firm Goodmans Law and most recently Manchester personal injury specialist John Pickering and Partners.
